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Daily National Sports Editor, Mike Bako, appears on Fox News Channel's Studio B with Shepard Smith

(CNN) -- Champion cyclist Lance Armstrong won't be allowed to compete in international Ironman triathlon contests while he's under investigation for doping, the World Triathlon Corporation announced Thursday.
The ruling bars him from the Ironman France competition scheduled for June 24 in Nice, the agency said.

The decision comes after the U.S. Anti-Doping Agency, or USADA, confirmed Wednesday that it is opening proceedings against Armstrong and five former teammates.
Armstrong said Wednesday the agency intends to "dredge up discredited" doping allegations against him in a bid to strip him of his seven Tour de France victories.

The champion cyclist has always insisted he never took performance-enhancing drugs.
Armstrong was accused of using such drugs by other riders, but never failed a drug test.
Armstrong started doing triathlons after retiring from cycling, and won a half-Ironman in Hawaii less than two weeks ago. He was the fastest cyclist and runner on the 70.3-mile course, and the third-fastest swimmer.

But with the new investigation open, the World Triathlon Corporation suspended him.

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