August 4, 2010 | Read Time: 1 minute
Philanthropy experts say damage to the seven-time Tour de France champion Lance Armstrong’s image arising from a federal doping investigation could taint his foundation, which raises millions of dollars to fight cancer, according to the Associated Press.
Mr. Armstrong, a cancer survivor, has vehemently denied using performance-enhancing drugs. A federal finding otherwise would “devastate” the Lance Armstrong Foundation, said Ken Berger, chief executive officer of the watchdog group Charity Navigator.
“They are not going to be able to thrive if the person who is the spirit behind it is in trouble,” Mr. Berger said.
The Armstrong group, in Austin, Tex., better known as Livestrong after the term emblazoned on the millions of yellow bracelets it has sold, reported $42-million in revenue last year, according to the Associated Press.
