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Speedo Cancels Its Sponsorship Deal With Ryan Lochte

The 12-time Olympic medalist will no longer be sponsored by athletic swimwear maker Speedo or by designer Ralph Lauren, the companies announced Monday in separate statements. Brazilian authorities say they tried to cover up the fight with the robbery story.

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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. Ralph Lauren says its sponsorship of Lochte was specifically in support of the Rio Olympics and the contract will not be renewed.

“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”, the prominent swimsuit company said.

The 32-year-old had initially said he and three teammates had been pulled over in their taxi by gunmen posing as police who then robbed them. The incident caused a furor in Rio, where street crime was a major issue heading into the games. It was not immediately clear why he made the story up, but Lochte said he was drunk during a stop at a Rio gas station where he said the robbery took place. A gun was pulled, and we had to give them cash. He went on to say he was robbed of money and his wallet.

Lochte left Brazil before police could seize his passport and question him about his allegations.

But he quickly found himself embroiled in controversy when police said his account was untrue, and that in fact the group had been detained over the vandalization of a gas station bathroom – apparently led by a drunken Lochte.

FILE – In this Tuesday, Aug. 9, 2016, file photo, United States’ Ryan Lochte checks his time in a men’s 4×200-meter freestyle heat during the swimming competitions at the 2016 Summer Olympics, in Rio de Janeiro, Brazil. “If I had never done that, we wouldn’t be in this mess”.

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In his most recent interview with NBC, which was taped in NY and began airing this past weekend, Lochte said he “very intoxicated” and takes “full responsibility” for his actions. 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”.

Rio police said U.S. swimmer Ryan Lochte lied about being held up at gunpoint Sunday morning