Lochte loses endorsements, big-time



... four dump him in one day 

As I said last week, this concocted story by Ryan Lochte about being robbed by phony police cost him seven figures in endorsements since he lost four of them on Monday.

The first to go was Speedo, which said this, according to CBS News:

"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. We appreciate his many achievements and hope he moves forward and learns from this experience."

Lochte also lost endorsement contracts with Ralph Lauren, Gentle Hair Remover, and Airweave, which is a mattress company, again according to CBS News.

ESPN reporter Darren Rovell tweeted this late yesterday afternoon.


Darren Rovell

@darrenrovell

Industry sources tell me Lochte lost about $1 million in current endorsement deals today.

4:35 PM - 22 Aug 2016

The apology was late

Lochte apologized in an interview with Matt Lauer broadcast Saturday and Monday, but the swimmer should never have run with that concocted story to Lauer and others earlier in the week.

Late last week, the U.S. Olympic Committee (USOC) said that it would issue some kind of punishment to Lochte -- and perhaps to the other swimmers -- but no one knows how severe that punishment will be.

CBS story about endorsements

http://www.cbssports.com/olympics/news/ryan-lochte-dropped-by-first-major-sponsor-since-robbery-debacle/

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