Live Update 
From the Liveblog of
Monday, August 22, 2016
From the Liveblog of
Monday, August 22, 2016
Ryan Lochte loses Speedo sponsorship over fabricated robbery
Add ToI as a Preferred Source on GoogleUS swimmer Ryan Lochte loses his first major sponsor when Speedo USA announces it is dumping him over a drunken incident during the Rio Olympics that he initially described as an armed robbery. He has since apologized for embellishing his version of events.
In a brief statement, Speedo USA says it would donate $50,000 of Lochte’s fee to Save The Children to benefit needy 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 swimsuit giant says. “We appreciate his many achievements and hope he moves forward and learns from this experience.”
— AP
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