updated 10/22/2012 AT 7:00 AM ET
•originally published 10/22/2012 AT 8:05 AM ET
Lance Armstrong has been stripped of his seven Tour de France titles as ordered by the U.S. Anti-Doping Agency, banning him from the sport for life.
The International Cycling Union announced Monday that it would accept the report issued on Armstrong, 41, which charges him with steroid use as well as using a blood boosters and transfusions to mask performance-enhancing substances in his system. He has continued to deny these allegations.
“Lance Armstrong has no place in cycling,” UCI president Pat McQuaid said at a press conference in Geneva on Monday, announcing the ruling.
A special UCI management meeting on Friday will discuss whether to demand the return of Armstrong’s prize monies as well as whether to recommend reassignment of his titles to another rider.