Two high-profile sponsors have dropped US Olympic swimmer Ryan Lochte after he lied about being robbed at gunpoint at the Rio Olympics.
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UPDATE – Ralph Lauren, has also revealed that it will not be seeking to renew its deal with Lochte. On August 14, Lochte and three other US swimmers destroyed a sign at a gas station. He was the breakout star of the 2012 London Olympics, landing a short-lived reality TV series called “What Would Ryan Lochte Do?” and appearing, as himself, on top shows such as “30 Rock” and “90210”.
That version quickly unraveled when police said the swimmers never reported the incident to authorities and there was scant evidence of a robbery. He was held by security guards at the gas station and was released when the swimmers paid a $50 fee.
Ryan Lochte may finally be starting to feel the effects of his lie about being robbed at gunpoint in Rio.
Speedo were the first company to end a relationship with Lochte, announcing the decision in a statement on Monday.
“While we have enjoyed a winning relationship with Ryan for over a decade and he has been an important member of the Speedo team, we can not condone behavior that is counter to the values this brand has long stood for”, they said in a statement.
Speedo’s statement also reads the company will donate $50,000 of Lochte’s endorsement payment to Save The Children (a beneficial organization for Brazilian children).
In a single day, Lyin’ Ryan lost swimwear maker Speedo, clothes designer Ralph Lauren and Syneron-Candela, owner of Gentle Las Hair Removal, reports the New York Post.
Long one of the most popular US athletes, the laid-back swimmer is 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.
At 2016′ Olympics, Ralph Lauren designed and provided the Polo-branded outfit the U.S. Olympic team wore at the opening and closing ceremonies.
The 12-time Olympic medallist paid the price for fabricating the claim after he and U.S. team-mates Gunnar Bentz, Jack Conger and James Feigen became involved in a drunken altercation over their alleged vandalism of a Rio petrol station.
Lochte, in turn, expressed in a statement his gratitude to Speedo and said he respected the company’s decision.
Whatever the case, it’s clear Lochte was untruthful, and he apologized to Brazil during an interview with Matt Lauer on NBC over the weekend.
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Both the U.S. Olympic Committee and USA Swimming have indicated that Lochte will be punished, perhaps endangering the 32-year-old’s hopes of competing in a fifth Olympics at Tokyo in 2020.
