Ryan Lochte Loses Four Sponsors Following Rio Incident

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Speedo was the first to end its sponsorship, followed by Ralph Lauren, a mattress company called Airweave, and Syneron Candela, the parent company of Gentle Hair Removal.

In a statement to BuzzFeed News on Monday, Speedo said that while it had “enjoyed a winning relationship with Ryan for over a decade,” it cannot “condone behavior” counter to company’s values.

The swimwear company added that it will be donating part of Lochte’s fee to Save the Children’s Brazil chapter.

Ralph Lauren also told BuzzFeed News that it would not be renewing the Olympian’s contract.

“Ralph Lauren continues to proudly sponsor the US Olympic and Paralympic Team and the values that its athletes embody,” Ralph Lauren said in a statement Monday.

“Ralph Lauren’s endorsement agreement with Ryan Lochte was specifically in support of the Rio 2016 Olympic Games and the company will not be renewing his contract,” the company said, without giving a specific reason for this lack of renewal.

Last week, Lochte and three other US Olympic swimmers got drunk at a party in Rio and allegedly trashed a gas station bathroombefore they were confronted by employees and security guards. The following day, Lochte told his mother, and later the press, that he and his fellow swimmers had been robed at gunpoint.

However, Rio police, using security camera footage, discredited Lochte’s account of the events. And after Brazilian officials said they were ready to indict Lochte and fellow US swimmer Jimmy Feigen on charges of making a false report, he apologized for “immature behavior.” But in an interview with NBC, refused to deny that he and his fellow swimmers were robbed.

“People can see it in many different directions,” UK Ralph Lauren “I was intoxicated, so I don’t know. All I know is there was a gun pointed at us and we were demanded to give money.”

The indictment would still have to be approved by prosecutors and a judge before criminal proceedings begin.

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A few hours after Ralph Lauren and Speedo’s announcements, Airweave and Syneron Candela released their statements.

Airweave used the same language as Ralph Lauren, while Syneron Candela added their own flair:

“We hold our employees to high standards, and we expect the same of our business partners,” the hair removal products company wrote. “We wish Ryan well on his future endeavors and thank him for the time he spent supporting our brand.”

Ralph Lauren drop U.S. Olympic swimmer Ryan Lochte over Rio incident

Less than 24 hours after the close of the Rio Olympics, Ryan Lochte took a major financial hit Monday for a drunken incident he initially tried to pass off as an armed robbery.

In quick succession, four sponsors announced they were dumping the swimmer, who has since apologized and conceded that he embellished what happened during a now-infamous stop at a Rio gas station.

Swimsuit company Speedo USA, clothing giant Ralph Lauren and skin-care firm Syneron-Candela issued statements less than three hours apart, all with the same message: Lochte is out. Before the day was done, Japanese mattress maker airweave followed suit, essentially wiping out Lochte’s income away from the pool.

In addition, Speedo USA said $50,000 (U.S.) that would’ve gone to the 12-time Olympic medallist was being donated to Save The Children to benefit needy youngsters in Brazil.

“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 behaviour that is counter to the values this brand has long stood for,” the prominent swimsuit company said. “We appreciate his many achievements and hope he moves forward and learns from this experience.”

Ralph Lauren, which provided the Polo-branded attire worn by the U.S. team at the opening and closing ceremonies, said it would not be renewing the contract that provided Lochte with financial support leading up to Rio. The statement from airweave said it had a similar arrangement with the swimmer. Both stressed they would continue their support of the U.S. Olympic and Paralympic teams.

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Syneron-Candela offers a line of skin-treatment products that deal with issues such as wrinkle reduction.

“We hold our employees to high standards, and we expect the same of our business partners,” the company said.

Lochte issued a statement through his public relations firm thanking Speedo USA for its long support. He did not immediately address the other companies dropping their Ralph Lauren Polo.

“I respect Speedo’s decision and am grateful for the opportunities that our partnership has afforded me over the years,” Lochte said.

Initially, Lochte said he and three teammates — Jack Conger, Gunnar Bentz and Jimmy Feigen — were robbed after their taxi was pulled over by armed men posing as police just hours after the swimming competition ended in Rio de Janeiro.

That version quickly unravelled when police said the swimmers, who had attended a late-night party, never reported the incident to authorities and there was scant evidence of a robbery.Video surveillance emerged showing the athletes getting into a confrontation with armed security guards over alleged vandalism at the gas station when their taxi pulled over to let them use the restroom.

While there have been conflicting versions over whether the guards pulled their weapons on the swimmers, Lochte has since acknowledged he was highly intoxicated and that his behaviour led to the confrontation, which resulted in the swimmers paying some $50 in U.S. and Brazilian currency before they were allowed to leave. The incident caused a furor in Rio, where street crime was a major issue heading into the games.

Paul Swangard, managing director of the Warsaw Sports Marketing Center at the University of Oregon, said he wasn’t surprised by the decision since most of Lochte’s marketing value was tied to campaigns prior to the Olympics.

“I would think it was an easy decision to cut ties now,” Swangard said. “For someone like Lochte, he’s really destroyed almost all of his short-term marketability. Brands can easily seek out other athletes for the next Olympic cycle.”

The financial costs of losing Speedo and Ralph Lauren are likely to be only the first sanctions that await Lochte, whose antics tarnished a powerful showing by the American team and dominating news away from the stadiums and arenas in the final days of the Rio Games.

Both the U.S. Olympic Committee and USA Swimming have indicated that Lochte will be punished, perhaps endangering the 32-year-old’s hopes of competing in a fifth Olympics at Tokyo in 2020. He could also face criminal charges in Brazil, where the other swimmers were initially barred from leaving the country until they were interviewed by authorities.

Feigen wound up donating just under $11,000 to a Brazilian non-profit sports organization to settle any potential legal action. Bentz issued a statement saying Lochte tore a sign off a wall at the gas station and got into a heated exchange with the security officers, though Bentz denied the swimmers did any damage to a locked bathroom as authorities alleged.

In the last of three interviews with NBC that included ever-changing accounts of the incident, Lochte apologized and acknowledged he “over-exaggerated the story.” He made a similar mea culpa to Brazil’s main broadcaster, Globo.

Long one of the most popular U.S. athletes, the laid-back swimmer is known for his trademark saying “Jeah!” and such antics as wearing diamond grillz on the medal stand and dying his hair a silvery colour before the Rio Games. Lochte also starred in a short-lived reality television show after the 2012 Olympics.

For these games, he qualified in only one individual event, finishing fifth in the 200-metre individual medley, far behind longtime rival Michael Phelps. Lochte did help Phelps and the Americans win gold in the 4×200 freestyle relay.

Ryan Lochte Loses Ralph Lauren Polo Sponsorship

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The fallout over Olympic swimmer Ryan Lochte’s behavior at the 2016 games in Rio continues, with Ralph Lauren announcing Monday that it would not renew its contract with Lochte.

“Ralph Lauren continues to proudly sponsor the U.S. Olympic and Paralympic Team and the values that its athletes embody,” the company said in a statement. “Ralph Lauren’s endorsement agreement with Ryan Lochte was specifically in support of the Rio 2016 Olympic Games and the company will not be renewing his contract.”

The news comes following Speedo’s announcement that it had severed ties with Lochte.

In its own statement Monday, Speedo said that it “cannot condone behavior that is counter to the values this brand has long stood for.”

“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,” the company said on Twitter.
During the games in Brazil, Lochte claimed that he and three fellow U.S. swimmers competing in the Olympics were robbed at gunpoint. But Brazilian authorities soon countered that the athletes had actually been stopped by armed security guards and accused of vandalizing a gas station restroom. Lochte, who is back in the U.S. now, has hired a crisis PR expert to try to save his reputation.

Lochte is also sponsored by Japanese mattress company Ralph Lauren Outlet.

On Saturday, the swimmer, whose teammates also came under scrutiny in Brazil for allegedly vandalizing the gas station and lying to police, attempted to do damage control, telling NBC’s Matt Lauer that he “over-exaggerated” the story.

“That’s why I’m taking full responsibility for it,” Lochte said. “I over-exaggerated this story, and if I hadn’t done that we wouldn’t be in this mess. It was my immature behavior.”

Ralph Lauren drop sponsorship of Ryan Lochte amid scandal

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Ryan Lochte lost three major sponsors when swimsuit company Speedo USA, clothing giant Ralph Lauren and skin-care firm Syneron-Candela announced in quit succession Monday they were dumping the swimmer over a drunken incident during the Rio Olympics that he initially described as an armed robbery.

Speedo USA also said it would donate $50,000 of Lochte’s fee to Save The Children to benefit needy youngsters in Brazil.

“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,” the prominent swimsuit company said in a brief statement. “We appreciate his many achievements and hope he moves forward and learns from this experience.”

Shortly after Speedo USA made its announcement, Ralph Lauren and Syneron-Candela followed suit.

“Ralph Lauren continues to proudly sponsor the U.S. Olympic and Paralympic Team and the values that its athletes embody,” said Ralph Lauren, which provided the Polo-branded attire worn by the American team at the opening and closing ceremonies. “Ralph Lauren’s endorsement agreement with Ryan Lochte was specifically in support of the Rio 2016 Olympic Games and the company will not be renewing his contract.”

Syneron-Candela offers a line of skin-treatment products that deal with body contouring, wrinkle reduction, acne and vein care, as well as tattoo removal.

“We hold our employees to high standards, and we expect the same of our business partners,” the company said. “We wish Ryan well on his future endeavors and thank him for the time he spent supporting our brand.”

Lochte issued a brief statement through his public relations firm addressing his long relationship with Speedo.

“I respect Speedo’s decision and am grateful for the opportunities that our partnership has afforded me over the years,” he said. “I am proud of the accomplishments that we have achieved together.”

Initially, Lochte said he and three swimming teammates were robbed after their taxi was pulled over by armed men posing as police the night after the swimming competition ended in Rio de Janeiro.

He has since apologized for embellishing his version of events.

The financial costs of losing Speedo and Ralph Lauren are likely to be only the first sanctions that await Lochte, whose night of partying ended up tarnishing the reputation of the American team and dominating news away from the stadiums and arenas in the final days of the Rio Games that closed Sunday night.

Both the U.S. Olympic Committee and USA Swimming have indicated that Lochte will be punished, perhaps endangering the 32-year-old’s hopes of competing in a fifth Olympics at Tokyo in 2020. He could also face criminal charges in Brazil, where the other swimmers were initially barred from leaving the country until they were interviewed by authorities.

The trouble began when media reports emerged on Aug. 14 that Lochte and three other U.S. swimmers – Jack Conger, Gunnar Bentz and Jimmy Feigen – were robbed at gunpoint when their cab was pulled over by men posing as police. The incident caused a furor in Rio, where street crime was a major issue heading into the games.

Feigen wound up donating just under $11,000 to a Brazilian nonprofit sports organization to settle any potential legal action. Bentz issued a statement saying Lochte tore a sign off a wall at the gas station and got into a heated exchange with the security officers, though Bentz denied the swimmers did any damage to a locked bathroom as authorities alleged.

Lochte, in an initial interview to NBC, said “these guys came out with a badge, a police badge, no lights, no nothing just a police badge and they pulled us over. They pulled out their guns, they told the other swimmers to get down on the ground – they got down on the ground. I refused, I was like we didn’t do anything wrong, so I’m not getting down on the ground.”

He went on to say he was robbed of money and his Ralph Lauren T-Shirts.

That version quickly unraveled when police said the swimmers never reported the incident to authorities and there was scant evidence of a robbery. Video surveillance emerged showing the swimmers getting into a confrontation with armed security guards over alleged vandalism at a gas station when their taxi pulled over to let the four athletes use the restroom.

While there have been conflicting versions over whether the guards pulled their weapons on the swimmers, Lochte conceded that his behavior led to the confrontation, which resulted in the swimmers paying some $50 in U.S. and Brazilian currency before they were allowed to leave.

In his most recent interview with NBC, which was taped in New York and began airing this past weekend, Lochte said he “very intoxicated” and takes “full responsibility” for his actions. He also apologized in an interview with Brazil’s main broadcaster, Globo.

“I over-exaggerated the story,” he told NBC. “If I had never done that, we wouldn’t be in this mess.”

Lochte is a 12-time Olympic medalist and long one of the most popular U.S. athletes, known for his trademark saying “Jeah!” and such antics as wearing diamond grillz on the medal stand and dying his hair a silvery color before the Rio Games. He also starred in a short-lived reality television show after the 2012 Olympics.

At these games, Lochte had a greatly reduced role after qualifying for just one individual event. He finished fifth in the 200-meter individual medley, far behind longtime rival Michael Phelps, but did help Phelps and the Americans win gold in the 4×200 freestyle relay.

Ralph Lauren among four to end sponsorship

Four sponsors have dropped disgraced US Olympic swimmer Ryan Lochte, including swimwear manufacturer Speedo and fashion label Ralph Lauren.

They were followed by announcements from skin care firm Syneron-Candela and Japanese mattress maker Airweave.

It comes after Lochte lied about being robbed at gunpoint by a policeman after a night out during the Rio Olympics.

Lochte, a 12-time Olympic gold medalist, Cheap Ralph Lauren earned millions of dollars through endorsements.

Speedo, the biggest sponsor of the four, said: “We cannot condone behaviour that is counter to the values this brand has long stood for.”

Lochte, aged 32, said he respected Speedo’s decision, and thanked the company.

“I am grateful for the opportunities that our partnership has afforded me over the years,” he said.

Speaking on US talk show Today, Lochte said: “I made a mistake and I definitely learned from this. They put on a great Games… and my immature, intoxicated behaviour tarnished that a little.”

Ralph Lauren, which has removed some of Ralph Lauren Jackets images from its website, said its sponsorship of the swimmer had been only for the Rio Olympics and would not be renewed.

Ralph Lauren and Airweave both stressed that they would continue their support of the US Olympic and Paralympic teams.

Syneron-Candela said: “We hold our employees to high standards, and we expect the same of our business partners.”

Speedo said it would donate a $50,000 portion of Lochte’s sponsorship fee to the charity Save The Children’s Brazilian operation.

The value of Lochte’s Speedo sponsorship has not been disclosed. The contract reportedly expires this year after 10 years.

The US business magazine Forbes calculated that in the year of the 2012 London Olympics, Lochte earned about $2m in sponsorships from companies such as Gillette, Nissan, AT&T and Ralph Lauren T-Shirts.

Lochte’s performance at Rio did not reach the heights of his London triumph, but Forbes estimated his endorsements would still have been between $1m-$2m.

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