The world’s well-known cyclist, Lance Armstrong, faced a lawsuit against using the drugs to increase the performance during the race (i.e. “doping”). Several years before, he had opposed these allegations, but now he faced with some serious proof that consequently led him to accept these charges. Armstrong ultimately lost his all contracts of brand endorsement right after this news. He was diagnosed with cancer and thus established the Livestrong Foundation, an organization for the treatment of cancer patients, and to support caregivers and survivors. The primary source of fundings for the organization was the Armstrong sponsorships. To rebound from the doping controversy and to ensure the sustainability of his organization, the only option he found was to resign from the chairman of Livestrogn and from its board of directors. Livestrong was continually losing its sponsorships despite Armstrong efforts, it was required to tackle the negative publicity, loss of fundings and needed to generate other ways for investment.
Related Case Solutions & Analyses:
Vincor: Project Twist
Emergence of Default Swap Index Products
Keith Ferrazzi — The Paths to Power
Channel Management
Barilla Pasta: A Company In Hot Water
Lassonde Industries versus Olivia’s Oasis Inc.
India’s Amul: Keeping up with the Times
Coca-Cola FEMSA’s Contribution to Peace, Spanish Version
Increasing the ROI of Social Media Marketing
With a Little Help from “Nuestros Amigos”: Hispanics and Kidney Transplants
