Speedo ends sponsorship of Ryan Lochte

American swimmer Ryan Lochte, a 12-time Olympic medalist, has been
dropped by swimwear manufacturer Speedo, as well as fashion label Ralph
Lauren following him falsely claiming that he had been robbed at gunpoint
by a policeman after a night out during the Rio Olympics.

In a statement on its Twitter, Speedo USA stated that it would donate a
50,000 dollar 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 enjoyed a winning relationship with Ryan for over a decade and
he has been an important member of the Speedo team, we cannot condone
behaviour that is counter to the values this brand has long stood for. We
appreciated his many achievements and hope he moves forward and learns from
this experience,” the Speedo statement read.

I am #TeamSpeedo, are you?

A photo posted by Ryanlochte (@ryanlochte) on Jul 26, 2016 at 5:00pm PDT

Ryan Lochte loses all four commercial sponsors after Rio Olympics
lie

Speedo’s decision follows Lochte’s other commercial sponsors, including
Ralph Lauren, Airweave and Gentle Hair Removal dropping the medal winning
swimmer after claiming that he and three teammates Gunnar Bentz, Jack
Conger and Jimmy Feign had been pulled over and robbed at gunpoint by men
posing as police officers while on their way back to the Olympic Village.
In actual fact, the swimmer had vandalised a locked toilet at a petrol
station.

Ralph Lauren said in a statement: “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.”

Since the incident Ralph Lauren has pulled Lochte’s image from their
website and social media pages.

In response to the controversy Lochte has issued an apology for the
incident, in part stating: “I am very proud to represent my country in
Olympic competition and this was a situation that could and should have
been avoided. I accept responsibility for my role in this happening and
have learned some valuable lessons.”

A photo posted by Ryanlochte (@ryanlochte) on Jul 27, 2016 at 2:00pm PDT

Image: Speedo USA Facebook