AUSTIN, TX (AP) -- Lance Armstrong is stepping down as chairman of his Livestrong cancer-fighting charity to it can focus on its mission instead of its founder's problems.

Armstrong's announcement came minutes before Nike Inc., announced it is terminating its personal contract with him.

Nike said it a statement that Armstrong had "misled" the company for a decade about doping. The company said it would continue to support Armstrong's foundation.

The U.S. Anti-Doping Agency released a massive report last week detailing allegations of widespread performance-enhancing drug use by Armstrong and his teams. The document included testimony from 11 former teammates. USADA has ordered 14 years of Armstrong's career results erased, including his seven consecutive Tour de France titles from 1999 to 2005.

The Lance Armstrong Foundation, commonly known as Livestrong, was founded in 1997 and has raised roughly $500 million to support cancer patients. The group has scheduled its 15th anniversary celebration for this weekend. Armstrong will stay on the charity's board.

A cancer survivor, Armstrong strongly denies doping and says he quit fighting USADA because its hearing process was unfair.

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