Lochte fabricated a tale that he was robbed at gunpoint in Rio de Janeiro during the Olympics.
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Speedo is removing Lochte as their brand endorser, while Ralph Lauren had removed his profile on their website.
Motokuni Takaoka declined to comment specifically on Lochte’s predicament, saying via e-mail, “I respect the athletic performance of Ryan, and as long as he is a respectable athlete, he will remain the USA ambassador for Airweave as long as our partnership agreement remains effective”.
Speedo said in a statement that “while we have enjoyed a successful relationship with Ryan for more than a decade, he was an important member of the team, we can not tolerate behavior that is contrary to the values of this brand for a long time”.
Nottingham, UK-based Speedo’s USA unit, said it would donate US$50,000 ($67,400) of Lochte’s fee to Save The Children, a global charity partner of Speedo. “If I had never done that, we wouldn’t be in this mess”.
Speedo and Ralph Lauren were followed by announcements from skin care firm Syneron-Candela and Japanese mattress maker Airweave that they were terminating their contracts with him.
The company, which designs the outfits worn by US athletes during the opening and closing ceremonies, said Monday that the endorsement was specifically for the 2016 Olympics, and would not be renewed. Sponsorship expert Bob Dorfman told FOXBusiness.com last week that the robbery scandal could cost Lochte “millions of dollars” in future earnings.
Does Ryan Lochte deserve to lose his sponsors over what happened in Rio? Both stressed they would continue their support of the U.S. Olympic and Paralympic teams.
And Syneron Candela said in a statement to ESPN: “We hold our employees to high standards, and we expect the same of our business partners”.
The U.S. swimmer claimed he and three other teammates were robbed at gunpoint.
“Speedo USA today announces the decision to end its sponsorship of Ryan Lochte”, the company confirmed in an official statement released on Monday afternoon.
Lochte has said he was intoxicated at the time he made the claims about the robbery and has apologized to Brazilian authorities.
All four are subject to an International Olympic Commission investigation into their conduct and Lochte has now been hit financially as well. Video surveillance emerged showing the athletes getting into a confrontation with armed security guards over alleged vandalism at the gas station when their taxi pulled over to let them use the restroom.
The 12-time medalist also indicated he regretted leaving Rio last week to return to his Gainesville, Fla., home while Bentz, Conger and Feigen were still in Brazil and subsequently faced further questioning.
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Lochte’s performances in Rio were not as impressive as what they were during the London 2012 games, where he won 400m medley and 4x200m freestyle gold, 200m medley and 4x100m freestyle silver and 200m backstroke bronze.
