Speedo, three other sponsors drop Lochte
Episode, fabrication costly for swimmer
Speedo was the first, announcing early Monday that it had dropped its sponsorship of embattled U. S. swimmer Ryan Lochte. By the end of the day, three other companies also said they would cut ties with him.
The decisions come after a week- long saga that led to Lochte and three other U. S. swimmers being questioned by Rio de Janeiro authorities after Lochte alleged they were robbed at gunpoint. Ralph Lauren and a laser hair removal company announced they also would sever their sponsor relationships with the 32- year- old.
“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 the behavior that is counter to the values this brand has long stood for,” Speedo USA said in a statement.
Ralph Lauren, which outfitted Team USA for the opening and closing ceremonies, told CNBC on Monday that it would not renew its deal with Lochte, who was one of the highlighted athletes on the company’s website modeling Team USA gear.
Syneron- Candela, the parent company of Gentle Hair Removal where Lochte was a spokesman, confirmed to USA TODAY Sports that it had cut Lochte loose. Late Monday, mattress company Airweave said it had ended its partnership with him.
“We hold our employees to high standards, and we expect the same of our business partners,” Syneron- Candela said in a statement.
Speedo said it would donate a portion of Lochte’s $ 50,000 fee to global charity Save the Children.
Lochte originally told USA TODAY Sports that he and fellow U. S. swimmers Jack Conger, Gunnar Bentz and Jimmy Feigen were pulled over in a taxi by men with badges in the early- morning hours of Aug. 14. Lochte said the men robbed them, an account eventually called into question by Rio police and a judge who ordered the four to remain in the country Wednesday.
Lochte returned to the USA on Wednesday; Conger, Bentz and Feigen remained in Brazil to face questions about what occurred at the gas station where the incident took place. Police alleged the swimmers vandalized a bathroom and security guards at the station demanded the swimmers pay for the damage, which they did.
A USA TODAY Sports probe called into question police claims that the swimmers vandalized the gas station, aside from ripping down a loosely attached sign.
Lochte told NBC last weekend that he “overexaggerated” details.
“It’s how you want to make it look like, whether you call it a robbery, whether you call it extortion or us paying just for the damages, we don’t know,” he said. “All we know is there was a gun pointed in our direction and we were demanded to give money.”
Marketing experts expected fallout from Lochte’s sponsors as the 12- time Olympic medalist walked back parts of his armed robbery tale.
“There’s one pretty important rule that anybody in the public eye should think about: Don’t lie,” said Joe Favorito, a professor at Columbia University.
Bob Dorfman, executive creative director for Baker Street Advertising, noted Lochte was on the back end of his swimming career. He won one medal in Rio in the 4x200- meter freestyle relay.
“Lochte’s shelf life was already limited as an endorser,” Dorfman said. “He’s now just fallen off the shelf.”