According to Speedo, the company can not accept the athlete’s behavior that contradicted the brand’s value. “We appreciate his many achievements and hope he moves forward and learns from this experience”.
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A subsidiary of United Kingdom -based Pentland Brands Limited, Speedo announced it would donate a $50,000 portion of Lochte’s pay to a charity that works with poor children in Brazil.
In response, Lochte told the AP Press that he respects Speedo’s decision and is “proud of the accomplishments” they achieved together.
Speedo was the first company Monday morning to announce it was dropping sponsorship of USA swimmer Ryan Lochte.
Speedo and Lochte signed a reported 10-year deal in 2006, so it was set to expire this year.
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 like 30 Rock and 90210.
Swimsuit company Speedo USA, clothing giant Ralph Lauren and skin-care firm Syneron-Candela issued statements less than three hours apart, all with the same message: Lochte is out.
Speedo was the first company to drop the athlete.
In the promotional video below, Lochte said that Gentle Hair Removal’s laser treatment “was the best thing that’s ever happened” to him.
Japanese mattress company Airweave tweeted its decision on Monday afternoon.
However, Ralph Lauren and Airweave have both emphasized that that they would continue their support of the US Olympic and Paralympic teams.
Lochte, 32, claimed he and three of his teammates – all gold medal winners in Rio – were mugged by robbers pretending to be police after a night out.
“The behavior of these athletes is not acceptable, nor does it represent the values of Team USA or the conduct of the vast majority of its members”, the US Olympic Committee (USOC) said in a statement.
“We hold our employees to high standards, and we expect the same of our business partners”, Gentle Hair Removal parent company Syneron-Candela said in a statement. What he said was a robbery at gunpoint turned about to be a settlement that was his own fault, after vandalizing a gas station and the owner demanding he pay the damages on the spot. “And that’s something that I’m going to have to live with”, Lochte said in the interview.
Lochte initially said he and three other USA swimmers were robbed at gunpoint during a night out in Rio during the 2016 Summer Olympic Games.
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Two of the other swimmers involved, Gunnar Bentz and Jack Conger, were prevented from flying out of Brazil until they had been questioned by police.
