Ryan Lochte Loses Four Endorsement Deals Amid Rio Scandal
On the rare occasions when I did think about Ryan Lochte, I dismissed him as a “bro.” Silly, immature, privileged and greatly out of touch with the world, but still, virtually harmless. That was until his lies and behavior in Rio, became one of the dominating stories of the Olympics. Destroying property and then lying about being held at gunpoint is beyond just stupid and silly. It was irresponsible, illegal, and utterly disrespectful to the people of Brazil. When this particular nation, stricken by poverty, has been characterized by its criminal element, the last thing they needed were Lochte’s lies.
When my family and I were discussing the incident and his behavior, we wondered what should be the consequences for his actions. I suggested taking some of his medals. Lying on the people who’ve hosted you and your fellow athletes in their country is no small offense. Some of my family members thought that was too extreme. That he had worked for his medals and therefore should be allowed to keep them.
Now, I realize that there was something else that would affect him even more.
According to Fox News, four companies have ended their relationship with the Olympic-level swimmer. The termination of these contracts will result in a loss of an estimated $1 million.
The companies who have decided to end their partnership with Lochte are Gentle Laser Hair Removal, Ralph Lauren, Airweave, a Japanese mattress company, and Speedo USA.
Syneron-Candela, owner of the hair removal company said, “We hold our employees to high standards, and we expect the same of our business partners.”
Ralph Lauren simply stated that the contract with Lochte was only for the 2016 Rio Olympics and would not be renewed.
Speedo USA took their disassociation from Lochte a step further. Not only did they severe the relationship, they announced that they would donate $50,000 from Lochte’s endorsement fee to the Save The Children charity, in Brazil. They also released this statement.
“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.”
A million dollar loss and a tarnished reputation just might do the trick.