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Ryan Lochte Loses All His Major Sponsors After Fabricating Rio Robbery

Rogue Valley

Rogue Valley

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Ryan Lochte Loses All His Major Sponsors After Fabricating Rio Robbery


AUGUST 23, 2016

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US Olympic swimmer Ryan Lochte

U.S. Olympic swimmer Ryan Lochte lost all four of his major sponsors on Monday, including Speedo USA and Ralph Lauren RL -0.82% , following his apology for an “exaggerated” story about being robbed at gunpoint at the Rio Games. Lochte’s version of the incident embarrassed the host city, angered local officials and further revelations about it – casting doubt on Lochte’s story – dominated news coverage of South America’s first Olympics. The U.S. Olympic Committee issued an apology on Thursday, and Lochte, a 12-time Olympic medalist, made his own apology on Saturday in an interview with Brazil’s largest broadcaster, Globo TV.

Within hours of the Games coming to a close on Sunday night, swimwear maker Speedo USA issued a statement saying it would drop Lochte as one of its endorsers, while luxury retailer Ralph Lauren said it would not be renewing its contract with the swimmer. Hair removal company Syneron Candela also ended its partnership with Lochte, four months after naming him its global brand ambassador for one of its products. Hair removal company Syneron Candela also ended its partnership with Lochte, four months after naming him its global brand ambassador for one of its products. Ralph Lauren had taken down references to the gold medalist from its website last week, and on Monday it said it would not renew the Olympic-specific deal, which featured Lochte and other Olympic athletes wearing Ralph Lauren-branded Olympic merchandise.
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Lochte embarrassed everyone with his drunken escapade. There are downsides to acting the fool.
 
Simpleχity;1066233338 said:
Ryan Lochte Loses All His Major Sponsors After Fabricating Rio Robbery




Lochte embarrassed everyone with his drunken escapade. There are downsides to acting the fool.
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The sad thing is it all was completely unnecessary.
Weather the monies paid were for the damage they caused or they were shaken down,
had they not felt the need to make up a story, it would have just cost them the money they paid for the damages.
Now it could likely cost Lochte millions.
 
Its time to put him under Lochte and key. :mrgreen:
 
longview said:
The sad thing is it all was completely unnecessary.
Weather the monies paid were for the damage they caused or they were shaken down,
had they not felt the need to make up a story, it would have just cost them the money they paid for the damages.
Now it could likely cost Lochte millions.
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Not only that but it probably would have never made the news
 
Crovax said:
Not only that but it probably would have never made the news
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Right, if they did not say anything, and gas station did not say anything, no event!
 
Fame doesn't guarantee smarts. ;) At 32, if he didn't know better then he never will.
 
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