David Brancaccio: The American agency that monitors drugs in sports today will bring formal doping charges against legendary cyclist Lance Armstrong. In a statement, Armstrong says "I have never doped." Lance Armstrong is a central figure in the business of cycling and his charitable work has brought in millions.
Marketplace's Eve Troeh has more.
Eve Troeh: Lance Armstrong is certainly famous for all those Tour de France victories. If he is found to have doped, he could lose those titles. Which would certainly plague his legacy in cycling. But in the general public Armstrong may be just as well known for those yellow wristbands that say "Livestrong" and promote cancer awareness.
Katherine McLane with the Lance Armstrong Foundation says people who wear those bracelets think of Lance Armstrong as more than an athlete.
Katherine McLane: It reminds them of a survivor who faced incredible tough odds, but came through it, and champions his cause in philanthropy and in sports.
The Livestrong brand is incredibly powerful, raising millions of dollars a year, and working with several corporations on partnerships.
McLane says its goal is to improve the lives of people affected by cancer.
McLane:To some people livestrong means inspiration in their quest to quit smoking, or their quest to lose weight.
She says the foundation's work will continue pretty much unaltered by the doping charges against Lance Armstrong.
I'm Eve Troeh for Marketplace.
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