Livestrong, or the Lance Armstrong Foundation, the cancer advocacy and awareness organization started by the megastar athlete, is likely to suffer a decline in revenue this year of between 10 and 20 percent. LAF pulled in about $50 million a year in 2009 and 2010, despite a sluggish economy. The estimate came by way of a statement from Doug White, the academic director of New York University’s Heyman Center for Philanthropy & Fundraising. It’s based on past examples of other charities that have faced scandal.
Public scrutiny intensified recently when former teammate and known doper Tyler Hamilton appeared on 60 Minutes to finally cop to using performance enhancing drugs for much of his professional career, and to reveal some very damaging things about Armstrong, the leadership of the U.S. Postal team, as well as details about how the drugs are doled out and when (before competition, not during). The bombshell was Hamilton’s assertion that Armstrong has indeed tested positive, but worked with race organizers to cover it up. If you look closely at Armstrong’s quotes in the media, they are always variations on never-tested-positive rather than never-doped.