Lance Armstrong and Livestrong foundation: rising again after the fall

Abstract

Lance Armstrong, a world-famous cyclist, was charged with using performance-enhancing drugs (i.e. “doping”). Armstrong had vehemently denied similar charges a few years earlier; however, this time there was substantial proof available and Armstrong accepted the charges. Subsequent to this news, most of the brands that had endorsed Armstrong terminated their contracts with him. As a cancer survivor, Armstrong had started Livestrong Foundation, an organization to support cancer patients, caregivers and survivors. This foundation depended heavily on sponsorships received by Armstrong. To protect his foundation from the negative impact of the doping controversy, Armstrong immediately resigned from both his post as chairman of Livestrong and from its board of directors. Despite his efforts, Livestrong was losing its sponsorships and a solution was needed to reduce the negative publicity, stop the loss of funding and identify new sources of funding.