Lochte Dumped by Speedo, Ralph Lauren
The fallout from LochMess is hitting Ryan Lochte in the pocketbook.
Lochte, who claimed he was robbed at gunpoint while in Rio, then said it was an "exaggeration", is losing two of his endorsements: Speedo and Ralph Lauren.
In a statement, Speedo 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. We appreciate his many achievements and hope he moves forward and learns from this experience."
Speedo said they are making a $50,000 contribution from Lochte's endorsement fee to Save the Children, earmarked for children of Brazil.
Ralph Lauren said in a statement it would not be renewing Lochte's contract.
Lochte still faces possible disciplinary action from the U. S. Olympic Committee. U. S. Swimming and the IOC could sanction him as well.
Lochte has twelve career Olympic Medals, including six gold.