Ryan Lochte just lost one of his biggest sponsors – with Speedo pulling the plug on the swimmer in the wake of his embarrassing Rio bathroom debacle. Gutman goes on to say that Lochte’s story about the night in question is “fabricated.”
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“As long as he is a respectable athlete, he will remain a USA ambassador for Airweave as long as our partnership agreement remains effective”, Motokuni Takaoka, CEO of Airweave, had said in an email.
The announcement comes shortly after Lochte admitted on NBC, Lochte admitted that he over-exaggerated claims he and three other USA swimmers were robbed at gunpoint.
Speedo USA became the first major brand to drop its sponsorship of the 32-year-old swimmer, saying that the company does not condone his behavior. At a daily media briefing, he did not specify what disciplinary action would be taken, but he was clearly displeased with Lochte and the other three swimmers.
Lochte initially said he and three swimming teammates were robbed after their taxi was pulled over by armed men posing as police.
On Friday, Lochte issued a statement via Instagram apologizing for “not being more careful and candid” about an incident in Rio that caused him to be indicted by Brazilian authorities.
Feigen is now donating around $11,000 to a charity in order to make up for the situation.
Lochte said in a statement he respected Speedo’s decision. But I know what I did was wrong.
Bob Williams, chief executive of Burns Entertainment & Sports Marketing, a firm that represents advertisers who hire celebrities for endorsement deals, said last week that the incident could do serious harm to Mr. Lochte’s endorsement potential. Lochte also starred in a short-lived reality television show after the 2012 Olympics. The swimsuit maker says that it doesnt condone behavior that is counter to its values. He finished fifth in the 200-meter individual medley, far behind longtime rival Michael Phelps, but did help Phelps and the Americans win gold in the 4×200 freestyle relay.
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After making up a story about being robbed at gunpoint during the Rio Olympics, Ryan Lochte is losing his high-profile sponsorships.
