Lance Armstrong Not Fighting Charges, Will Reportedly Be Stripped of Tour Titles

Update: Thursday, August 23 at 11:05 p.m. ET

Lance Armstrong will reportedly be banned from cycling for life and stripped of his seven Tour de France titles from 1999-2005 after deciding on Thursday to stop fighting doping charges, according to the Associated Press.

-- End of Update --

Historic cyclist Lance Armstrong has reportedly decided to give up the fight against doping charges, meaning he could be stripped of the seven Tour de France titles he won from 1999-2005, per the New York Daily News.

The New York Daily News sports team tweeted on Thursday:

"

Lance Armstrong abandons fight against doping charges. Will be stripped of Tour de France titles and banned for life. Story to follow.

— NYDN Sports I-Team (@NYDNSportsITeam) August 24, 2012"

Armstrong responded in a statement via his official website:

"

There comes a point in every man's life when he has to say, "Enough is enough." For me, that time is now. I have been dealing with claims that I cheated and had an unfair advantage in winning my seven Tours since 1999...The toll this has taken on my family, and my work for our foundation and on me leads me to where I am today – finished with this nonsense.

"

USADA has claimed that Armstrong used performance-enhancing drugs dating back to 1996, including steroids and the blood-booster EPO. He also allegedly underwent blood transfusions.

The 40-year-old has been adamant that he didn't use banned substances during his record-breaking streak in France. He sued in federal court for the charges to be dropped, but lost the case.