Ryan Lochte Loses All Sponsorship Deals
( 4UMF NEWS ) Ryan Lochte Loses All Sponsorship Deals:
Ryan Lochte’s Olympic-sized lie in Rio cost him his sponsorship deals — away they went Monday, one by one.
First, Speedo announced that it has dropped the U.S. swimmer since it “cannot condone behavior that is counter to the values this brand has long stood for.”
Speedo USA will donate a $50,000 portion of Lochte’s fee to Save The Children, which is a global charity partner of the parent company, for children in Brazil, the company said.
Lochte responded in a statement saying he respected Speedo's decision.
The Olympic athlete also lost his endorsement deals with Gentle Hair Removal and Airweave; Ralph Lauren said its deal with Lochte was "specifically in support of the Rio 2016" and won't be renewed.
Ralph Lauren had removed Lochte’s photo from its website over the weekend.
Lochte, 32, along with his swim teammates Jimmy Feigen, 26; Jack Conger, 21; and Gunnar Bentz, 20, had claimed they were robbed at gunpoint by men posing as cops while heading back to the Olympic Village in a taxi on Aug. 14.
One of the bandits supposedly put a gun to Lochte’s head, according to the swimmer’s initial bogus account.
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However, after an investigation, Rio police concluded that the athletes were drunk, vandalized a gas station and were detained by armed security until they paid for the damage they’d caused.
Initially, Lochte — who made it out of the country before officials held his teammates for further questioning — offered a vague apology.
During an interview with NBC’s Matt Lauer on Saturday, the 12-time Olympic medalist admitted he had “overexaggerated” the robbery tale.
“I overexaggerated that story, and if I had never done that, we wouldn’t be in this mess,” Lochte said. “None of this would have happened. It was my immature behavior.”
In a separate interview with Brazilian television, Lochte admitted he was still “highly intoxicated” when he told the tall tale.
On Sunday, U.S. Olympic Committee CEO Scott Blackmun said further action is coming in the matter of the 12-time swimming medalist and his three swimmer-bro buddies.
“They let down our athletes,” Blackmun said without sharing details about what discipline could be coming. “They let down Americans.”
Blackmun added that Lochte’s story also harmed Brazil because the storyline stole attention from the Rio Games themselves.
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