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Ryan Lochte Dropped By Speedo And Other Sponsors After Drunken Incident At Rio

Ryan Lochte Dropped By Speedo And Other Sponsors After Drunken Incident At Rio

ryan lochte for speedo

Ryan Lochte took a major financial hit on Monday following news (and a video surveillance) of him and three of his U.S. teammates getting into a confrontation with armed security guards after allegedly vandalizing a gas station bathroom, which he initially passed off as an armed robbery, just hours after a post-competition party in Rio de Janeiro.

First, swimsuit company Speedo USA decided to donate what should’ve been Lochte’s $50,000 USD to Brazil’s Save The Children and announced in a statement:

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. We appreciate his many achievements and hope he moves forward and learns from this experience.

Clothing giant Ralph Lauren, which provided the U.S. team’s attire at the opening and closing ceremonies, said they would not be renewing Lochte’s contract that provided the athlete with financial support leading up to this year’s Olympics. Japanese mattress maker airweave said it had a similar arrangement with Lochte. Both companies stressed that they would still continue their support of the U.S. Olympic and Paralympic teams.

Syneron-Candela, which offers a line of skin-treatment products, said in a statement, “We hold our employees to high standards, and we expect the same of our business partners.

Lochte has only commented on Speedo’s decision so far, saying,“I respect Speedo’s decision and am grateful for the opportunities that our partnership has afforded me over the years.

Photo via Speedo

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