Rio 2016 Olympic: Ryan Lochte loses corporate endorsements over Olympic scandal

For claiming he and three other members of the US Olympic delegation were robbed at gunpoint by fake cops at a gas station in Rio de Janeiro, swimming gold-medalist Ryan Lochte was robbed again. This time, what he lost were three corporate endorsement partners which dropped him over the Olympics scandal.

In a single day, Lyin' Ryan lost swimwear maker Speedo, clothes designer Ralph Lauren and Syneron-Candela, owner of Gentle Las Hair Removal, reports the New York Post. Speedo would instead donate Lochte’s US$50,000 (A$65,475) fee to Save The Children which would benefit poor youth in Brazil.

In a statement, Speedo said, “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.” The swimwear manufacturer added, “We appreciate his many achievements and hope he moves forward and learns from this experience.”

Ralph Lauren clarifies that its sponsorship agreement with the swimmer was only for the Rio 2016 Olympics which it would not renew. Meanwhile, Syneron-Candela, also ended its partnership with Lochte, explaining that since it holds its employees to high standards, it expects a similar standard from its business partners.

Lochte, along with Gunnar Bentz, James Feigen and Jack Conger were asked to pay for a bathroom stall door at a gas station they destroyed. They also urinated out in the open which prompted the station’s security guards to prevent them from leaving and forced them to pay at gunpoint.

In an interview at NBC’s “Today” show aired on Monday, Lochte said, “I was upset, there was no reason for us to be sitting down with a gun pointed to us for nothing that we did.” But the swimmer admits his behaviour shamed the country.

He concedes Brazil put on great games, adding, “They did everything. And my immature, intoxicated behavior tarnished that a little.”

VIDEO: Ryan Lochte May Lose Millions of Dollars in Endorsements Over Robbery Scandal