Speedo Drops Ryan Lochte After Robbery Hoax, But Will Others Follow Suit?

It was only a matter of time before Ryan Lochte started losing endorsements, and Speedo is the first company to drop the Olympic swimmer.

With allegations of fabricating a robbery story in Rio hanging over his head, Ryan Lochte has officially been dropped by Speedo. The swimwear brand announced their decision on Twitter by stating, “[Speedo] cannot condone behavior that is counter to the values this brand has long stood for.”

The Olympian has been backed by Speedo for over a decade, so it’s safe to assume their decision was not an easy one. In an attempt to right Lochte’s wrongs, Speedo announced they will be donating $50,000 to Save The Children, which is a charity focused on helping the children of Brazil.

Will Polo Ralph Lauren and the mattress company, Airweave, also drop Lochte? It’s hard to say, but one thing is for certain, Lochte will be receiving a lot less money than he’s used to.