NEW YORK: Ryan Lochte lost three major sponsors when swimsuit company Speedo USA, clothing giant Ralph Lauren and skin-care firm Syneron-Candela announced in quick succession yesterday they were dumping the swimmer over a drunken incident during the Rio Olympics that he initially described as an armed robbery.
Speedo USA also said it would donate $50,000 of Lochte’s fee to Save The Children to benefit needy youngsters 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 behaviour that is counter to the values this brand has long stood for,” the prominent swimsuit company said in a brief statement.
Lochte issued a brief statement through his public relations firm addressing his long relationship with Speedo. “I respect Speedo’s decision and am grateful for the opportunities that our partnership has afforded me over the years,” he said.
Initially, Lochte said he and three swimming teammates were robbed after their taxi was pulled over by armed men posing as police the night after the swimming competition ended in Rio de Janeiro. He has since apologised for embellishing his version of events.
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