Lance Armstrong returns to the saddle to ride in October

Lance Armstrong is returning to the saddle to ride in the Livestrong Challenge in Austin in October.

Armstrong will race in the event for the first time since 2012, when a report from the US Anti-Doping Agency exposed his use of performance-enhancing drugs.

The Texan was stripped of his seven Tour de France titles and pressured to leave the board of the Livestrong Foundation, which was set up in 1997 as the Lance Armstrong Foundation by the cancer survivor.

Armstrong made a $5,000 donation and registered for the ride earlier this month, and said in a statement to the Associated Press that he remains "humbled and proud" of Livestrong.

"When I started the Livestrong Foundation 18 years ago, I never dreamed it would realize the growth and success it has achieved," Armstrong said. "I look forward to supporting that effort."

Livestrong officials say they welcome his fundraising efforts, with spokeswoman Ellen Barry saying: "We welcome all contributions to the Livestrong Foundation as we continue our work to improve the lives of people affected by cancer now. This includes the recent contribution by Lance Armstrong."

"He has signed up to ride in our annual event with his own team as the ride is open to participants nationwide."