The popular swimwear brand Speedo dumped the U.S. Olympian after he finally admitted that he (sort of) lied about being robbed during a night out in Rio, Brazil.
Since Speedo took the plunge to drop Lochte on Monday morning, his other sponsors including Ralph Lauren, Gentle Hair Removal and Airweave have one by one ended their contracts with the swimmer.
Though Lochte claimed he was robbed at gunpoint while traveling back to the Olympic Village in Rio with three of his teammates on Sunday morning, a lengthy investigation proved that he actually got into an altercation with police at the scene after vandalizing a gas station.
After Lochte's robbery claim was officially debunked and the swimmer posted an apology on Instagram, Speedo USA announced its decision via Twitter to cut ties with him, saying it plans to donate $50,000 to Save The Children, a charity focussed on children in Brazil.
Lochte commented on the decision in a statement emailed to Mashable, saying, "I respect Speedo's decision and am grateful for the opportunities that our partnership has afforded me over the years. I am proud of the accomplishments that we have achieved together."The official response regarding our sponsorship of Ryan Lochte. pic.twitter.com/0DdP2RyceD— Speedo USA (@SpeedoUSA) August 22, 2016
After news of the terminated Speedo sponsorship got out, the brands behind Lochte's other endorsements followed suit. According to ESPN, Lochte's Olympic contract with Ralph Lauren will not be be renewed and his contract with Gentle Hair Removal was also canceled on Monday.
It seemed as though there was a glimmer of hope for Lochte after his final major sponsor, Airweave — a mattress company — appeared to be sticking by him as its CEO Motokuni Takaoka said he "respects his athletic performance."
Unfortunately, Airweave changed its tune after seeing the rest of Lochte's deals fall through, and tweeted an official statement on Monday afternoon explaining it has made the decision to end its partnership with Lochte but will "remain committed to supporting Team USA and the athletes preparing for the Paralympic games."Ryan Lochte has 1 sponsor left, Airweave, and it's sticking by him b/c the CEO "respects his athletic performance" pic.twitter.com/bQYHpGBVbM— Daniel Roberts (@readDanwrite) August 22, 2016
Looks like the 32-year-old athlete — whose endorsements totalled $2.3 million back in 2012 — will have a very different experience should he choose to return to the 2020 Olympics.airweave's official statement regarding sponsorship of Ryan Lochte. pic.twitter.com/pFGzMSxnTR— airweave USA (@airweaveUSA) August 22, 2016
Lochte declined to comment to Mashable on the loss of his three other endorsements.