It’s not looking good for U.S. Olympic medal winner Ryan Lochte. He has been dropped from four sponsors, including Speedo, Ralph Lauren, Airweave and Gentle Hair Removal after lying that he was robbed at gun point by police at a Rio de Janeiro gas station on August 14, 2016.
One may ask, “Why would he lie?” Well, while Lochte and his three teammates partied their “life away,”armed security guards alerted the authorities that the men vandalized a gas station and were told they had to pay for the damages before they were allowed to leave.
Lochte recently took to his Instagram and apologized to his fans, family and friends for the incident.
Unfortunately, the apology was too late. Speedo released a statement announcing that they were parting ways with Lochte.
“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,” the statement read. “We appreciate his many achievements and hope he moves forward and learns from this experience.”
The company also announced that it would donating $50,000 of Lochte’s fee to the Save the Children charity.
Ralph Lauren also issued a statement.
“Ralph Lauren continues to proudly sponsor the U.S. Olympic and Paralympic Team and the values that its athletes embody,” the company said. “Ralph Lauren’s endorsement agreement with Ryan Lochte was specifically in support of the Rio 2016 Olympic Games and the company will not be renewing his contract.”
Airweave and Gentle hair removal also terminated Lochte contracts.
Hopefully, he has learned his lesson. Do you think Lochte deserves a second chance?
Written By: Cynthia Casimir