“While we have enjoyed a winning relationship with Ryan for over a decade, we cannot condone behavior that is counter to the values this brand has long stood for,” Speedo said in a statement sent to BuzzFeed News.
Speedo ended its sponsorship of US Olympic swimmer Ryan Lochte after he "over-exaggerated" a story about being mugged in Rio. They said they will donate part of his fee to children in Brazil.
David Ramos / Getty Images
Last week, Lochte and three other US Olympic swimmers got drunk at a post-Olympics party in Rio, allegedly trashed a gas station bathroom causing ensuing conflicts with gas station workers and security guards. The following day, Lochte told his mother, and later the press, that he and his fellow swimmers had been held up at gunpoint and robbed.
Rio police investigated the incident and discredited Lochte's account of the events. After Brazilian officials said they were ready to indict Lochte and fellow US swimmer Jimmy Feigen on charges of making a false report, Lochte 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,” Lochte said. “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 criminal indictment would still have to be approved by prosecutors and a judge before criminal proceedings would begin.
Speedo USA today announces the decision to end its sponsorship of Ryan Lochte. As part of this decision, Speedo USA will donate a $50,000 portion of Lochte’s fee to Save The Children, a global charity partner of Speedo USA’s parent company, for children 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.
We appreciate his many achievements and hope he moves forward and learns from this experience.
LINK: Here’s How Ryan Lochte’s Robbery Story Turned Into An International Incident
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