Lochte Loses All Four Sponsors, $1M In One Day
BALTIMORE (WJZ) -- Ryan Lochte's sponsors dropped like flies following the news that he "exaggerated" about being robbed in Rio during the Olympics.
Speedo USA became the first major brand to drop its sponsorship, saying "we cannot condone behavior that is counter to the values this brand has long stood for."
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Speedo also announced that it will donate a $50,000 portion of Lochte's fee to Save The Children, a charity partner of Speedo, for children in Brazil.
After the announcement by Speedo USA, Lochte also lost endorsement deals with Ralph Lauren, Gentle Hair Removal and mattress company, Airweave. According to ESPN's Darren Rovell, the decisions cost Lochte about a million dollars.
All of the companies issued statements either ending or choosing not to renew their deals with Lochte.