Disgraced US Olympic swimmer Ryan Lochte lost his sponsorship deals with fashion brand Ralph Lauren and swimwear company Speedo. The swimmer, who won 12 Olympic golds in an otherwise storied career, rocked headlines after claiming to have been robbed at gunpoint in the streets of Rio de Janeiro, which hosted the 2016 Olympics.
Speedo, in a statement following their decision to drop Lochte, said that they "cannot condone behaviour" that runs against their long-standing values. Ralph Lauren, for their part, emphasized that they won't renew their agreement with the swimmer, which is valid only throughout the Rio Olympics. The fashion brand's website no longer features his pictures.
Lochte was apologetic during his interview with Today, admitting that his "immature, intoxicated behaviour tarnished [the Rio Olympics] a little. Responding to Speedo's decision, he expressed his gratitude "for the opportunities that our partnership has afforded me over the years."
Although Speedo didn't disclose the amount of their sponsorship deal with Lochte, the swimmer earned $2 million from his sponsors during the 2012 London Olympics, according to Forbes. The swimmer failed to match his achievements in London with his recent performances in Rio, having been overshadowed by the feats of his compatriot Michael Phelps.
Lochte's participation in the Rio Olympics still earned him a victory, having earned the gold medal with Jack Conger in the 4x200m freestyle relay.
Initial claims that Lochte and three other teams were held up by fake policemen after a night out were further clouded after the swimmer, while drunk, admitted that parts of the story were "over-exaggerated." He denied lying to Brazilian police despite CCTV footage of him showing otherwise.
Outrage poured from headlines in the US, with many media outlets criticizing Lochte for causing national shame. The New York Post went all out in shaming the swimmer with its August 19, 2016 headline "The Ugly American" sprawled over his picture on the front page.
