Many companies stick by their key pitchmen initially after their public appeal shifts, but then drop them once the pressure mounts. We saw that with Tiger Woods.
Nike has decided to stick with Lance Armstrong, even though he has dropped his fight of proving his innocence regarding doping, which for all intents and purposes, is an admission of guilt in my opinion (even though Lance has not admitted anything).
But how long will Nike remain faithful? We shall see.
Lance Armstrong dropped his fight against doping charges Thursday, which means he will be stripped of his seven Tour de France titles. But his loyal sponsors are not stripping him of their support.
Nike stood by Armstrong, much as it stood by Tiger Woods after revelations about his extramarital affairs in late 2009.
“Lance has stated his innocence and has been unwavering on this position,” said Mary Remuzzi, a Nike spokeswoman.