Ryan Lochte Loses All Endorsements
Olympic swimmer, Ryan Lochte, has lost all four of his endorsements on Monday as three companies — Speedo, Gentle Hair Removal and Airweave — terminated their deals with him.
Ralph Lauren said it simply would not renew its deal with Ryan that ran through the 2016 Olympics.
Speedo signed Lochte to a 10-year deal in 2006 and released a statement that said, “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…”
Speedo also said it would donate $50,000 of Ryan’s endorsement fee to a charity called “Save The Children,” that helps children in Brazil.
Ryan said, “I respect Speedo’s decision and am grateful for the opportunities that our partnership has afforded me over the years. I am proud of the accomplishments that we have achieved together.”
Ryan has admitted he was drunk in the early-morning hours of August 14th and destroyed a sign at a gas station. He and 3 other swimmers were then held at gunpoint by security guards and released after they paid a fee. Ryan later said they’d been robbed at gunpoint. He now says that was an exaggeration.