Rabobank drops cycling sponsorship

Updated: October 19, 2012, 10:17 AM ET
Associated Press

THE HAGUE, Netherlands -- Dutch bank Rabobank is ending its long sponsorship of professional cycling, saying "the trust in the cycling world has gone" following the publication of the U.S. Anti-Doping Agency's report on Lance Armstrong.

The bank said Friday it will halt sponsorship of its men's and women's professional teams at the end of 2012 after 17 years.

"It is with a heavy heart, but it is an irreversible decision for our bank," Bert Bruggink of the board of governors said. ...

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