Ryan Lochte loses all of his endorsement deals

Published: Aug 22, 2016 6:11 p.m. ET

 

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Speedo: ‘We cannot condone behavior that is counter to the values this brand has long stood for’

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Ryan Lochte won one gold medal in at the Rio 2016 Olympic Games but made the biggest headlines outside the pool.

By

STEVENPERLBERG

 

Ryan Lochte has lost all of his major endorsement deals as swimwear company Speedo USA, clothing line Ralph Lauren Corp. RL, -0.82%  , mattress maker Airweave USA and a hair-removal brand have dropped their sponsorship of the Olympic swimmer in the wake of the Rio de Janeiro scandal.

Speedo was the first company to sever ties on Monday, following Lochte’s bizarre controversy that shifted attention away from sports during the last week of the Olympics.

“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 said Monday.

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Rio Olympics close with a bang

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Fireworks lit up the sky above Rio de Janeiro as the 2016 Olympics came to a close and Brazil handed off to 2020 host Tokyo.

The company said it would donate a $50,000 portion of Lochte’s fee to a charity for Brazilian children. Terms of the swimmer’s endorsement deal weren’t disclosed.

Another sponsor, Gentle Hair Removal, also ended its partnership with Lochte. “We hold our employees to high standards, and we expect the same of our business partners,” Syneron-Candela, the brand’s parent company, said in a statement. The swimmer had previous sponsorship deals with companies such as Nissan and Gatorade, but those agreements have expired.

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• USA today -91468- ♀ (137 bytes) () 08/22/2016 postreply 16:34:27

• they indeed disgusting and deserve this! -許仙- ♂ (0 bytes) () 08/22/2016 postreply 19:00:50