His reputation is in tatters, the cycling victories that made him a legend are wiped away, and the sponsors that gave him enormous wealth have fled faster than a downhill race to a finish line. But that's only the beginning.

Lance Armstrong is also being asked to pay back millions of dollars. And the term "Armstrong era" is now apparently a moniker for widespread cheating.

The epic downfall of cycling's star, once an idolized icon of millions around the globe, stands out in the history of professional sports.

His latest and biggest plunge came Monday when the International Cycling Union stripped the 41-year-old of his seven Tour de France titles.

"Lance Armstrong has no place in cycling," said the union's president, Pat McQuaid, announcing that Armstrong is also banned from the sport.

The decision followed this month's finding by the U.S. Anti-Doping Agency that there is "overwhelming" evidence Armstrong was involved as a professional cyclist in "the most sophisticated, professionalized and successful doping program." Armstrong has steadfastly maintained his innocence.

McQuaid said he was "sickened" by the report.

But he emphasized, "Cycling has a future."

In a statement, the union wrote, "Today's young riders do not deserve to be branded or tarnished by the past or to pay the price for the Armstrong era."

The group, which officially goes by its French name Union Cycliste Internationale, or UCI, is the cycling's world governing body.

Following the union's announcement, the French Cycling Federation said it was reissuing its call for Armstrong to return 2.95 million euros -- nearly $4 million -- that he collected for winning the tours.

And $4 million might be a trifle compared to what SCA Promotions wants back.

The Texas insurance company covered bonuses that Armstrong was promised if he won the Tour de France. In 2002, it paid him $1.5 million; in 2003, $3 million, according to a Texas Monthly article that SCA posted on its website.

But after his 2005 victory, SCA withheld a promised $5 million bonus, citing reports that Armstrong had doped. He fought back in court and won. SCA had to pay not only the $5 million but also attorneys' costs and fees, bringing the total that year to $7.5 million.

So the company could seek as much as $12 million back. In a statement Monday, SCA said it was "considering all legal options to pursue a return of the funds paid by SCA to Mr. Armstrong."

Meanwhile, one of the sponsors that hadn't yet given up on Armstrong dropped out Monday.

He was once "a symbol of possibility," Oakley -- which has outfitted him in sunglasses and other gear -- said in a statement, adding that it looks "forward with hope to athletes and teams of the future who will rekindle that inspiration by racing clean, fair and honest."

Heavyweights such as Nike, RadioShack and Anheuser-Busch have already fled team Lance, though, like Oakley, they've vowed to continue supporting the Lance Armstrong Foundation, which fights cancer through a program widely known as Livestrong.

Armstrong does get to keep one prized possession from his Tour de France days. The Amaury Sport Organisation, which runs the 21-day tour, told CNN it will not ask him to return the yellow jerseys he won.

Armstrong did not comment Monday. At an event Sunday, he did not refer to the controversy directly but said it's been "an interesting and at times very difficult few weeks."