Within hours of the Games coming to a close, Speedo USA issued a statement saying it would drop Lochte as one of its endorsers, while Ralph Lauren said it would not be renewing its contract with the swimmer.
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Lochte is a 12-time Olympic medalist and long one of the most popular US athletes, known for his trademark saying “Jeah!” and such antics as wearing diamond grillz on the medal stand and dying his hair a silvery color before the Rio Games.
Lochte and three other American swimmers were robbed at gunpoint early Sunday, Aug. 14, by thieves posing as police officers who stopped their taxi and took their money and belongings, the U.S. Olympic Committee said.
The swimsuit maker owned by PVH in NY says that it doesnt condone behavior that is counter to its values. Speedo also noted that it was donating a $50,000 portion of Lochte’s fee to a charity created to help children in Brazil.
Ryan Lochte said he will learn from the incident in an interview with Matt Lauer. It said it wold not re-new the deal.
“Syneron-Candela will be ending its partnership with Ryan Lochte”, said the company’s statement. “We hold our employees to high standards, and we expect the same of our business partners”, it said. Instead the gold medal victor said he had “embellished” a story about being robbed.
“It was immature. It was childish”, said Lochte.
Police said Lochte and his three teammates, all gold medalists, vandalized a bathroom at a Rio gas station after a night of partying and armed guards confronted them and asked them to pay for the damage.
Lochte’s false claims caused the Olympic authorities huge embarrassment, highlighting security worries at a Games where Brazil has deployed 85,000 police and soldiers – double the number used in the 2012 London Games. When video later showed a happy-go-lucky foursome returning to the Olympic Village after the supposed robbery, more questions than answers were raised.
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When Lochte realized he had to come clean, he posted his side of the story on social media.
