Thursday, August 25, 2016

Sponsors Dumped The Lying American Swimmer

Ryan Lochte
American Olympic medalist and swimmer Ryan Lochte learned the hard way that lying to get attention doesn't pay. After Lochte fabricated a story about being held up at gunpoint in Rio during the 2016 Olympics, Speedo USA and Ralph Lauren, two of the swimmer’s biggest sponsors, are terminating their relationships with him.

The swim apparel company shared a statement on Twitter last 22 August, "Speedo USA today announces the decision to end its sponsorship of Ryan Lochte. As part of this decision, Speedo USA will donate a US$ 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 added that, "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."

Just hours later, Ralph Lauren told ESPN's Darren Rovell that they wouldn't be renewing Lochte's deal.

Lochte, who appeared in all of Ralph Lauren’s promotional campaigns and media imagery for the Olympics, was noticeably absent from the closing ceremonies, having returned to the U.S. earlier.

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