Cycling's governing body, UCI, agreed Monday to strip Lance Armstrong of his seven Tour de France titles and ban him for life, following a report from the U.S. Anti-Doping Agency that found him guilty of leading a massive doping program on his teams.

Landmark moment will ripple through the sport and bike industry.

With stunning swiftness, the U.S. Anti-Doping Agency said Thursday night it will strip Lance Armstrong of his unprecedented seven Tour de France titles after he dropped his fight against drug charges that threatened his legacy as one of the greatest cyclists of all time.