Thanks To His Rio Olympics Fib, Ryan Lochte Is Now Several Endorsements Short
Speedo is the first major sponsor to strip the Olympic swimmer of an endorsement.
Although he walked away with some shiny new hardware after taking the gold for the Men's 4x200m freestyle relay, Olympic swimmer Ryan Lochte will be leaving Rio de Janiero missing not only international respect, but a key sponsorship.
The Team USA standout has been in hot water after falsely alleging that he was robbed at gun point at a Rio gas station, when in reality he was confronted by local staff after vandalizing the bathroom. His "embellishments," as swift defenders of Lochte's character call them, cost him a sponsorship from Speedo. As reported by the Associated Press today (Aug. 22), the athletic swimwear behemoth retracted his endorsement, citing that it "doesn't condone behavior that is counter to its values."
Instead, the PVH-owned company will be donating $50,000 from his sponsorship fee Save the Childre, to the global charity for children in Brazil.
UPDATE [4:43 p.m.]:
Ralph Lauren, Gillette, Gentle Hair Removal and Airweave have followed suit in dropping Ryan Lochte post #LochteGate