Lance Armstrong decides to quit his own charity

Lance Armstrong has quit the board of his namesake foundation, the latest fallout from allegations of doping that brought about the cycling icon's epic downfall.

He chose to resign from the Lance Armstrong Foundation -- known by the name Livestrong -- "to spare the organization any negative effects as a result of controversy surrounding his cycling career," according to a statement by Jeff Garvey, the foundation's chairman.

"We are deeply grateful to Lance for creating a cause that has served millions of cancer survivors and their families. We are beholden to the Armstrong family for the nearly $7 million in contributions throughout the foundation's history. Lance Armstrong was instrumental in changing the way the world views people affected by cancer."

Armstrong previously gave up his position as chairman in the wake of the growing scandal, but said he would remain involved.

Although the Tour de France has revoked the seven victories that made him a legend, Armstrong tweeted a photo over the weekend showing himself lounging on a sofa beneath the seven prized yellow jerseys.

He has long insisted he did not cheat, and attacked those who accused him of using illegal substances. But the U.S. Anti-Doping Agency found "overwhelming" evidence that he was involved in "the most sophisticated, professionalized and successful doping program."

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