Millions Worth Sponsors Abandoned US Swimmer Ryan Lochte, After His Infamous Behavior in 2016

American professional swimmer Ryan Lochte once faced dire consequences for his actions. In the aftermath of his drunken endeavors during the Rio de Janeiro Summer Olympic Games of 2016, Ryan got involved in a controversy when he lied about being robbed by individuals dressed as armed police officers.

The truth came to light upon further investigation and the swimmer was heavily penalized. USA Swimming and United States Olympic Committee suspended him. In addition, he also lost his sponsorship deals with the renowned fashion brand Ralph Lauren and swimwear brand Speedo.

Was Ryan Lochte held at gunpoint?

Ryan, 32 years old at the time of the incident, claimed that armed individuals who demanded his and his friends’ money stopped him. When later approached by the press, his associates remained silent for comment.

Upon further investigation, the Brazilian police revealed the truth. Civil Police Chief Fernando Veloso stated as per the AP, “The closed-circuit video shows one of the swimmers pulling a sign off of a wall and dropping it onto the ground.” Furthermore, “A gas station worker arrives, and other workers inspect the damage. Veloso said the swimmers broke a door, a soap dispenser, and a mirror. The swimmers eventually talk with station workers as their cab leaves.”

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Due to his careless behavior, the 12-time Olympic medalist lost a few of his most significant sponsorship deals, including Speedo and Ralph Lauren.

Consequences of irresponsibility

After the truth about his fabricated story came to light, Ryan apologized in a press conference. “I wasn’t lying to a certain extent,” he said. “I over-exaggerated what was happening to me.”

But Ryan did not get off without consequences. Saying his actions could not be undone, the Speedo administration took a stern stance. “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,” read their official statement.

Ralph Lauren, too, stepped down. Stating that their endorsement agreement was strictly for the 2016 Rio Olympics, Ryan’s name was taken down from their website. Certain brands like Airweave took a more neutral stance. Choosing to continue their relationship with Lochte, their CEO said, “As long as he is a respectable athlete, he will remain a US ambassador for Airweave as long as our partnership agreement remains effective.”

Ryan was apologetic for his behavior

Ryan, who won a single gold medal at the games, defended himself and his friends Gunnar Bentz, Jack Conger, and Jimmy Feigen. Saying that their initial statement was made in a state of urgency. In addition, he expressed his thoughts, adding, “We just wanted to get out of there. There was a gun pointed in our direction — we were all frightened.”

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The infamous incident in Brazil left the swimmer’s career in shambles as he lost millions worth of sponsorship deals along with an immediate suspension from the Olympics. In conclusion, he issued a public apology. “I was immature and I made a stupid mistake. I’m human. I made a mistake and I definitely learned from this,” stated the athlete.