If the sponsors banded together, they could establish a new Cancer Charity into which they could donate and benefit from. The time is right. With all the publicity at the moment, it would be a perfect time to launch an ethical competing charity and sever all ties with the LAF. The mainstream press would cover it. They could quickly and effectively establish a competing "brand" for the sort of fundraising that the Livestrong brand facilitated. They could remove all (non historic) taint. Remove the colour yellow from the merchandise.
And direct the money to actual research.