Disgraced Olympic swimmer Ryan Lochte has seen his sponsorship dollars go from $1 million to zero real quick. As of today all of his sponsors have dropped him after the embarrassment caused by him lying about a robbery in Rio.
Yahoo! News reports all of Lochte’s remaining sponsors are cutting ties with with the man known as “not as good as Michael Phelps.”
Going into the Olympics Lochte had deals with Speedo, Gentle Laser Hair Removal, Airweave and Ralph Lauren via a Team USA sponsorship. Now that the world knows that he lied and over-exaggerated about a story where he claimed to have been robbed while in Rio during the Olympics, no one wants to stand next to him.
Speedo was the first to drop him. Then Ralph Lauren announced that they would not be renewing his contract. Then Gentle Laser Hair Removal cut him off. Airweave, a Japanese mattress company at first decided to stick by their guy as their U.S. ambassador.
“I respect the athletic performance of Ryan, and as long as he is a respectable athlete, he will remain a US ambassador for Airweave as long as our partnership agreement remains effective,” said company CEO Motokuni Takaoka in a statement. “Our focus is on supporting Team USA, and our hope is people will remain focused on cheering on the athletes who still have events to compete in.”
But come Monday, they changed their mind and announced that they too would be dropping Lochte.
The good news in all of this is that Speedo says they will take the remaining $50,000 they planned on paying Lochte with and donate it to Save The Children to specifically help kids in Brazil.