Ryan Lochte loses lucrative sponsorship deal as Speedo donate €45,000 of his fee to charity
The repercussions of US swimmer Ryan Lochte's 'gunpoint robbery' claims are starting to be felt by the Olympian as Speedo have elected to discontinue their partnership with the American.
Lochte came under intense scrutiny after alleging that he and three of his swimming team-mates had been robbed by men posing as police offers as they returned to the Olympic village following a night out. Subsequently it was proved that the men were petrol station security guards who were seeking money after the swimmers vandalised the on-site toilet.
Lochte has since apologised for 'not being more clear and candid' in his explanation, but his words of contrition weren't enough for one of his sponsors.
Swimwear company Speedo have swiftly ended their relationship with Lochte, and will donate $50,000 of his fee to a Brazilian children's charity.
Statement from Speedo, ending its relationship with Ryan Lochte pic.twitter.com/dT0F9WwxSR— Darren Rovell (@darrenrovell) August 22, 2016