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.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Kimberly Alters is the news editor at TheWeek.com. She is a graduate of the Medill School of Journalism at Northwestern University.
-
'The disconnect between actual health care and the insurance model is widening'
Instant Opinion Opinion, comment and editorials of the day
By Anya Jaremko-Greenwold, The Week US Published
-
Cautious optimism surrounds plans for the world's first nuclear fusion power plant
Talking Point Some in the industry feel that the plant will face many challenges
By Justin Klawans, The Week US Published
-
Explore new worlds this winter at these 6 enlightening museum exhibitions
The Week Recommends Discover the estrados of Spain and the connection between art and chess in various African countries
By Catherine Garcia, The Week US Published
-
Judges block $25B Kroger-Albertsons merger
Speed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
By Peter Weber, The Week US Published
-
Rupert Murdoch loses 'Succession' court battle
Speed Read Murdoch wanted to give full control of his empire to son Lachlan, ensuring Fox News' right-wing editorial slant
By Peter Weber, The Week US Published
-
Bitcoin surges above $100k in post-election rally
Speed Read Investors are betting that the incoming Trump administration will embrace crypto
By Peter Weber, The Week US Published
-
Enron mystery: 'sick joke' or serious revival?
Speed Read 23 years after its bankruptcy filing, the Texas energy firm has announced its resurrection
By Peter Weber, The Week US Published
-
US charges Indian tycoon with bribery, fraud
Speed Read Indian billionaire Gautam Adani has been indicted by US prosecutors for his role in a $265 million scheme to secure solar energy deals
By Peter Weber, The Week US Published
-
Boeing machinists approve contract, end strike
Speed Read The company's largest union approved the new contract offer, ending a seven-week strike
By Peter Weber, The Week US Published
-
US economy still strong in final preelection report
Speed Read It grew at a solid 2.8% annual rate from July through September
By Peter Weber, The Week US Published
-
Boeing machinists reject deal, continue strike
Speed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
By Peter Weber, The Week US Published