08/24/2012 AT 1:00 AM ET
Lance Armstrong has quit the race.
The seven-time Tour de France victor announced Thursday he will no longer fight his investigation by the U.S. Anti-Doping Agency – meaning he will be banned for life from ever competing again, reports CNN.
Late Thursday, the USADA confirmed it will also strip Armstrong of all results since Aug. 1, 1998, reports USA Today.
“There comes a point in every man’s life when he has to say, ‘Enough is enough.’ For me, that time is now,” Armstrong, 40, said in a statement.