Businessman Donald Trump speaks to guests gathered for the Republican Party of Iowa's Lincoln Dinner at the Iowa Events Center on May 16, 2015 in Des Moines, Iowa. Scott Olson/Getty Images The latest big-name company to cut off ties with Republican presidential candidate Donald Trump is ESPN.

The network announced on Monday that it was moving its July 14 Celebrity Golf Classic from Trump's National Golf Club. The shift comes after Trump's comments at his presidential launch speech, in which he labeled some Mexican immigrants "rapists" and drug-runners.

Proceeds from the Celebrity Golf Classic are donated to the Stuart Scott Memorial Cancer Research Fund, which provides medical research funds for minority populations. In its statement, ESPN suggested it wouldn't be appropriate to keep the tournament at Trump's course.

"Our decision reflects our deep feelings for our former colleague and support for inclusion of all sports fans," the network said of Scott, who died in January after a long battle with cancer. "Diversity and inclusion are core values at ESPN and our decision also supports that commitment."

Last month, the Republican presidential candidate ignited a firestorm of criticism after broadly accusing Mexican immigrants of rape and criminal activity.

"When Mexico sends its people, they're not sending their best," Trump said according to a transcript. "They're bringing drugs. They're bringing crime. They're rapists. And some, I assume, are good people."

ESPN is the latest in a growing list of companies to cut ties with Trump following his comments. NBC, Univision, NASCAR, and even Serta mattresses have condemned the real-estate mogul's comments.

Trump has refused to back down from his comments, though he admitted to Fox News that his presidential bid is "bad for my brand."

"This isn't good for my brand; I think it's bad for my brand," Trump told Fox News. "Maybe I'm leading in polls, but this is certainly not good. I lose customers; I lose people."

Despite some losses, Trump told Business Insider that he is still very strong financially.

"My bottom line is very large," Trump said on Monday. "So, it doesn't have much effect on me, but it's certainly not easy for someone to run for president."

Most polls put Trump close to the top of the Republican presidential field, though many top pollsters suggest that his popularity is likely inflated by his high name recognition.