By Harry Allison
U. S. swimmer Ryan Lochte’s behavior in Rio and his slipperiness with the truth is starting to cost him in the wallet.
Speedo has dropped Lochte as an endorser after he admitted to “over-exaggerating” an armed-robbery claim made during the Rio Olympics.
The company also announced it will be donating $50,000 of Lochte’s fee to Save the Children, which will direct the money toward youngsters in Brazil.
“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,” the company announced in a statement provided to The Washington Post. “We appreciate his many achievements and hope he moves forward and learns from this experience.”