Pat McQuaid, president of UCI announces at press conference in Geneva:
UCI Management meeting on Friday to decide about prize money and address other aspects of the USADA report.
Armstrong may well now find that The Sunday Times (libel action) and the insurance company who had to pay out for his Tour victories will now start legal actions against him. Plus possibility of trial for perjury in US leading to possible jail sentence. Armstrong could fall further.
Following the UCI announcement, Oakley sunglasses have cut ties with Armstrong – sponsorship ends immediately.
Will legal action continue against journalist Paul Kimmage? "The case against Kimmage is nothing to do with Usada and Armstrong," says McQuaid. "It's about a journalist who accused me and my predecessor of being corrupt. It's a straight defamation case."
Will UCI now be returning all donations made by Armstrong? McQuaid says UCI will still accept donations from current riders – so this dreadful conflict of interest will continue.
One positive result of McQuaid UCI press conference today is that it has helped to boost the Paul Kimmage defense fund to $64,551.54 from 2108 donors.*
Update on total (18.00 BST): $65,257.54 from 2139 donors.