Australian Olympic field hockey player Tom Craig was arrested after trying to buy cocaine on a night out following his team's elimination from the Paris Games.
French prosecutors released a statement confirming the 28-year-old had been given a criminal warning and was let go after spending a night in custody.
Craig apologized on Wednesday for the "terrible mistake" he had made after he was forced to face the media in Paris.
"I would firstly like to apologize for what has occurred over the last 24 hours," Craig said, according to The Associated Press.
"I made a terrible mistake, and I take full responsibility for my actions."
Furthermore, the 28-year-old stated that he was embarrassed by his actions, which were only his own and by no means reflect the values of his family, teammates, friends, the sport, or the Australian Olympic team.
Craig was quickly escorted away by an Australian Olympic Committee official without taking questions following his apology.
The Australian Olympic Committee issued a statement from 2024 team leader Anna Meares that confirmed Craig had lost his Olympic privileges and was moved out of the athletes village.
"I cannot condone what Tom has done," Meares said.
"He is a good person who made a bad decision. But there are consequences for decisions like this."
The prosecutor's office disclosed that police happened upon a drug transaction outside a building in the 9th arrondissement of Paris on late Tuesday evening into early Wednesday morning.
Under French law, a criminal warning is an alternative to prosecution for first-time offenders who admit their guilt and don't commit another crime within two years.
No fine was imposed against the player.
However, Craig's arrest took the spotlight away from Australia's achievement of its 18th gold medal at the Paris Games, setting a national record.