Ryan Lochte’s swimming sponsor, Speedo, revealed on August 22 that they’re dropping the Olympian from his contract! After Ryan lied about being held up at gunpoint in Rio, Speedo says they just can’t stand for his behavior!
Speedo USA is considered the world’s leading swimwear brand, and they’ve proudly sponsored 12-time Olympic medalist Ryan Lochte, 32, for over a decade. What better way to advertise their brand? But now that it’s come to light that Ryan fabricated a wild story that he and other Team USA swimmers were robbed at gunpoint in Rio, they’re severing ties with their champion altogether:
Update: Sponsors Ralph Lauren, Airweave and Gentle Hair Removal have also pulled the plug on Ryan says a report by Bro Bible. The cost on Ryan’s earnings could be as high as one million dollars a year.
“Speedo USA today announces the decision to end its sponsorship of Ryan Lochte. As part of this decision, Speedo USA will donate a $50,000 portion of Lochte’s fee to Save The Children, a global charity partner of Speedo USA’s parent company, for children in Brazil” the company said 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 behavior 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,” the company added.
Well damn! Speedo didn’t hold back in their statement, did they? The decision to terminate Ryan’s sponsorship comes the same day as his first interview after the scandal aired. Ryan sat down with Matt Lauer on Today, and while he said he took “full responsibility” for his actions, his apology seemed a little forced. Ryan called it “BS” that he and the three other swimmers — James Feigen, Jack Conger, and Gunnar Bentz — had guns pointed at them.
HollywoodLifers, are you shocked that Speedo terminated Ryan’s sponsorship? Tell us in the comments!