Speedo Drops Sponsorship Of Ryan Lochte

NEW YORK (AP) – Ryan Lochte has lost two majors sponsors after Speedo USA and Ralph Lauren announced they are dumping the swimmer over a drunken incident during the Rio Olympics that he initially described as an armed robbery.

Both companies announced their decisions Monday, one day after the end of the games.

Speedo says it will donate $50,000 of Lochte’s fee to Save The Children to benefit needy youngsters in Brazil. Ralph Lauren says its sponsorship of Lochte was specifically in support of the Rio Olympics and the contract will not be renewed.

Lochte initially said he and three swimming teammates were robbed after their taxi was pulled over by armed men posing as police. He has since apologized for embellishing what officials now say was a dispute over vandalism at a gas station.

Join The Conversation On The KDKA Facebook Page
Stay Up To Date, Follow KDKA On Twitter

(Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Comments

Comments are closed.

More From CBS Pittsburgh

Bringing You The Best in Sports Talk Radio
New Podcast Network

Listen Live