Speedo, Ralph Lauren drop U.S. swimmer Ryan Lochte after Rio

The Rio Olympics ended Sunday night with a festive Closing Ceremony — but the drama from the Games lives on, particularly for U.S. swimmer Ryan Lochte. Swimwear brand Speedo announced Monday that it was ending its sponsorship agreement with Lochte, following the swimmer's involvement in a protracted robbery scandal alongside teammates Gunnar Bentz, Jack Conger, and Jimmy Feigen. Lochte had initially claimed the four men were victims of an armed robbery during a taxi ride, but local authorities and surveillance video revealed Lochte had fabricated the story; the men had actually vandalized a gas station bathroom while intoxicated, and armed security guards forced them to pay for the damage.

In addition to severing its sponsorship ties with Lochte, Speedo announced it would donate $50,000 from Lochte's endorsement fee to a Brazilian charity for children. Also Monday, clothing company Ralph Lauren announced it would not renew its contract with Lochte, which was specific to the Rio Games. Money reports Lochte's endorsement deals were worth more than $2 million as of 2012.

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