Speedo and Ralph Lauren Drop Ryan Lochte’s Sponsorship After The Rio Incident

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Speedo and Ralph Lauren Drop Ryan Lochte’s Sponsorship After The Rio Incident

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Olympic Swimmer, Ryan Lochte, lost his Speedo and Ralph Lauren Sponsorships due to over-exaggerating about being robbed in Rio. Last week, Ryan Lochte and three other US Olympic swimmers got drunk at a party in Rio and trashed a gas station bathroom before they were caught by security. The following day, Lochte announced that he and his fellow swimmers were robbed at gunpoint.

On Monday, Speedo said that while it had “enjoyed a winning relationship with Ryan for over a decade,” it cannot “condone behavior” counter to company’s values. “Ralph Lauren continues to proudly sponsor the US Olympic and Paralympic Team and the values that its athletes embody,” Ralph Lauren said in a statement Monday.

Ralph Lauren also stated that it would not be renewing the Olympian’s contract. “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,” the company said.

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