Now, after everything else, four of Lochte’s top sponsors have reportedly pulled their support for him: Speedo, Polo Ralph Lauren, Gentle Hair Removal and Airweave.
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While there have been conflicting versions over whether the guards pulled their weapons on the swimmers, Lochte conceded that his behavior led to the confrontation, which resulted in the swimmers paying some $50 in US and Brazilian currency before they were allowed to leave.
A 12-time Olympic gold medalist, Lochte, 32, has earned millions of dollars through endorsements.
Rio Police Department charged United States swimmer Ryan Lochte with making a false report of robbery. Hair removal company Syneron Candela and Japanese mattress maker Airweave have also chose to distance themselves from the swimmer.
Speaking on USA talk show Today, Lochte said: “I made a mistake and I definitely learned from this”. The company said it was not renewing the current deal it has with Lochte.
Speedo, in a statement following their decision to drop Lochte, said that they “cannot condone behaviour” that runs against their long-standing values.
“[The people of Rio] put on a great Games”, Lochte told Lauer. Ralph Lauren began distancing itself last week when it stopped featuring the Olympian on its website.
Syneron-Candela is the parent company for Gentle Hair Removal the company in which Lochte acted as it spokesperson.
The value of Lochte’s Speedo sponsorship has not been disclosed.
Speedo said it would donate a $50,000 portion of Lochte’s sponsorship fee to the charity Save The Children’s Brazilian operation.
Initial claims that Lochte and three other teams were held up by fake policemen after a night out were further clouded after the swimmer, while drunk, admitted that parts of the story were “over-exaggerated”.
Outrage poured from headlines in the USA, with many media outlets criticizing Lochte for causing national shame.
In Rio, he swam in two events, winning a gold medal in the 4x200m freestyle relay.
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On 19 August the New York Post carried a front-page headline describing him as the “Ugly American”, along with the slogan “Liar, Liar, Speedo on fire”. “We appreciated his many achievements and hope he moves forward and learns from this experience”, the Speedo statement read.
