Ryan Lochte Loses Speedo and Ralph Lauren Endorsement deal after #LochteGate!
After Lochte lied about being robbed at gunpoint by a policeman after a night out during the Rio Olympics, Speedo and Ralph Lauren has chosen to end their Partnerships with the Olympic swimmer!
Speedo, the biggest sponsor of the four, said: "We cannot condone behaviour that is counter to the values this brand has long stood for." Lochte, aged 32, said he respected Speedo's decision, and thanked the company.
Ralph Lauren, which has removed some of Lochte's images from its website, said its sponsorship of the swimmer had been only for the Rio Olympics and would not be renewed.
Ralph Lauren and Airweave both stressed that they would continue their support of the US Olympic and Paralympic teams.
Syneron-Candela said: "We hold our employees to high standards, and we expect the same of our business partners.''
Speedo said it would donate a $50,000 portion of Lochte's sponsorship fee to the charity Save The Children's Brazilian operation.
The value of Lochte's Speedo sponsorship has not been disclosed. The contract reportedly expires this year after 10 years.