Ryan Lochte didn’t just disgrace himself after lying about his robbery incident in Rio, he also lost some major financial partnerships.
Speedo USA, Ralph Lauren, Airweave and Syneron Candela all dropped their sponsorship with the U.S. swimmer following his scandal at the 2016 Rio Olympics.
Meaning Lochte didn’t just go home empty handed in the medals department…his pockets are now as barren as his 2016 trophy case.
Reports by ESPN indicate that he’ll lose an estimated $1 million.
Speedo—with whom Lochte had maintained a 10-year deal since 2006, is severing ties. The company announced they will donate the last $50,000 from his contract to charity.
Ralph Lauren took the swimmer off their Olympic endorser page and also gave us a statement on Monday.
“Ralph Lauren continues to proudly sponsor the U.S. Olympic and Paralympic Team and the values that its athletes embody. Ralph Lauren’s endorsement agreement with Ryan Lochte was specifically in support of the Rio 2016 Olympic Games and the company will not be renewing his contract.”
The loss of endorsements is a devastating blow for Lochte, who needs the sponsorship money to continue training for the 2020 Olympics in Tokyo.
We hope that drunken Rio bender was worth is for Lochte…because it was seven figures expensive.
Share your thoughts with us Celebrity Gossipers in the comments below! Be sure to subscribe to our newsletters. But don’t forget to like us on FACEBOOK!
OLYMPIC SPIRIT: Sprinter Receives Rare Sporstmanship Medal For Helping A Downed CompetitorPrince Death: Pills Contained Lethal FentanylBoyband Slave Driver Dies in Prison, Credited With Discovering N’Sync and Backstreet Boys
