Speedo says that while it had “a winning relationship with Ryan for over a decade and he has been an important member of the Speedo team”, it could not condone his behavior after the end of Rio’s swimming competition.
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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.
The swimwear maker’s Monday announcement comes amid a scandal that erupted over the USA swimmer’s since-refuted claims to having been robbed at gunpoint in Rio de Janeiro.
The third company to drop the 12-time Olympic medal victor was Syneron-Candela, for which Lochte endorsed the Gentle Hair Removal brand.
Forbes estimates his endorsements would have been between $1 million and $2 million for the Rio Olympics.
Later Monday, Ralph Lauren issued a statement saying it would not be renewing Lochte’s contract.?
According to his website, his other sponsors include Airweave, Marriott and Ralph Lauren.
An Airweave spokeswoman said Monday, “Airweave is a proud sponsor of the U.S. Olympic and Paralympic Teams and our dedication to athletic achievement is unwavering”.
“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”, Airweave founder Motokuni Takaoka told Bloomberg.
Airweave tweeted: “After careful consideration, we have made the decision to end our partnership with Ryan Lochte”.
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. “We hold our employees to high standards, and we expect the same of our business partners”.
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. We wish Ryan well on his future endeavours and thank him for the time he spent supporting our brand”. USA Swimming and the International Olympic Committee could both sanction Lochte.
CNN reported that Speedo will donate a $50,000 portion of Lochte’s fee to Save the Children for children in Brazil.
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“And that’s something I’m going to have to live with”, Lochte said. Two teammates accompanying Lochte at the time of the incident, Jack Conger and Gunnar Bentz, told police that his version of events had in fact been fabricated.
