US Olympic swimmer Ryan Lochte’s ginormous lie about getting robbed at gunpoint in Rio is costing him more than what I’m sure he thought it would..he’s losing all of his major endorsements one by one.
Speedo announced first that they had dropped him because they “cannot condone behavior that is counter to the values this brand has long stood for.” Speedo went on to add that the USA will donate a $50,000 portion of Lochte’s fee to Save The Children, which is a global charity partner of the parent company, for children in Brazil. Ryan responded in a statement saying he respected Speedo’s decision.
But it wasn’t just Speedo that pulled out of sponsoring Lochte, he also lost his endorsement deals with Gentle Hair Removal and Airweave; and clothing brand Ralph Lauren said its deal with Lochte was”specifically in support of the Rio 2016” and won’t be renewed.
According to the NY Daily News, “During an interview with NBC’s Matt Lauer over the weekend, the 12-time Olympic medalist admitted the “over-exagerated” the robbery tale.”