The Olympics end and the Lochtefreude begins.
The day after the closing ceremonies took place in Rio finds U.S. swimmer Ryan Lochte without two of his biggest endorsement deals, Ralph Lauren and Speedo. The Speedo news broke earlier this morning and was followed by an official from Ralph Lauren telling ESPN’s Darren Rovell that they would not be renewing the deal. Lochte, who went on Today to admit to Matt Lauer that he fabricated the story of being robbed at gunpoint in Rio along with his teammates after a night of partying. Brazilian officials disputed the claim, painting a vastly different picture of Lochte and his drunk teammates vandalizing a gas station bathroom, then having guns drawn on them by the gas station’s security, until finally coming to some undisclosed financial agreement before returning back to the Olympic Village.
A Ralph Lauren spokesperson issued a statement: “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.”
Lochte still has contracts with Gentle Hair Removal and a Japanese mattress manufacturer, Airweave. According to the Washington Post, the mattress company pledges to stand by their spokesperson.