Four Sponsors Cut Ties With Lochte

22 Aug 2016 | tshego

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US Olympic swimmer Ryan Lochte has been dropped by four sponsors after it emerged he embellished a story surrounding a robbery at gunpoint at the Rio Olympic Games.

The sponsors include swimwear manufacturer Speedo, fashion label Ralph Lauren, skin care firm Syneron-Candela and Japanese mattress maker Airweave.

In a statement, Speedo – Lochte’s biggest sponsorship deal – said: “Speedo USA today announces the decision to end its sponsorship of Ryan Lochte. As part of this decision, Speedo USA will donate a $50,000 portion of Lochte’s fee to Save the Children, a global charity partner of Speedo USA’s parent company, for children in Brazil.

“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 cannot condone behavior that is counter to the values this brand has long stood for. We appreciate his many achievements and hope he moves forward and learns from his experience.”

In response, Lochte thanked the brand and said: “I am grateful for the opportunities that our partnership has afforded me over the years.

“I made a mistake and I definitely learned from this. They put on a great Games… and my immature, intoxicated behaviour tarnished that a little.”

Ralph Lauren ended its relationship with the 12-time Olympic gold medallist stating its sponsorship was only for the Rio Olympics and would not be renewed and has since removed some of his images from the website.

“Ralph Lauren continues to proudly sponsor the US Olympic and Paralympic team and the values that its athletes embody. Ralph Lauren’s endorsement agreement with Ryan Lochte was specifically in support of the Rio 2016 Olympic Games and the company will not be renewing his contract.”

Locthe had claimed he and three US team-mates were robbed at gunpoint on a night out in Rio earlier this month. However, police were suspicious of his story and security footage emerged showing Lochte had in fact caused damage to a gas station before handing over money to security guards for the trouble caused.