More Woes Befall Disgraced US Swimmer, Ryan Lochte As Four Sponsors Dump Him

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More woes have befallen the disgraced US Olympic swimmer Ryan Lochte, as four sponsors have dropped him from their endorsement lists including swimwear manufacturer Speedo and fashion label Ralph Lauren.

They were followed by announcements from skin care firm Syneron-Candela and Japanese mattress maker Airweave.
It comes after Lochte lied about being robbed at gunpoint by a policeman after a night out during the Rio Olympics.
Lochte, a 12-time Olympic gold medalist, has earned millions of dollars through endorsements.

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.

“I am grateful for the opportunities that our partnership has afforded me over the years,” he said.

Speaking on US talk show Today, Lochte said: “I made a mistake and I definitely learned from this. They put on a great Games… and my immature, intoxicated behaviour tarnished that a little.”

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.

The US business magazine Forbes calculated that in the year of the 2012 London Olympics, Lochte earned about $2m in sponsorships from companies such as Gillette, Nissan, AT&T and Gatorade.

Lochte’s performance at Rio did not reach the heights of his London triumph, but Forbes estimated his endorsements would still have been between $1m-$2m.

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