Ryan Steven Lochte is an American competitive swimmer and a 12-time Olympic medalist, which ranks him second in swimming behind Michael Phelps. His seven individual Olympic medals rank near the top in men’s.
Recently in Rio Olympics 2016, this Swimmer exaggerated a story of being robbed with 3 other US Swimmers. Later on after the investigation by the Brazil Law Enforcing Agencies, the result came to an end that it was just a story and basically it was his own fault in damaging the property and his rude behavior with people.
After this story came out many of his sponsors announced to end the contract with him after this controversy as their image would be damaged if they will be associated with him anymore.
Speedo International Ltd. is a manufacturer and distributor of swimwear and swim-related accessories based in Nottingham, England. Founded in Sydney, Australia in 1914, the industry-leading company is now a subsidiary of the British Pentland Group. Speedo was the first Sponsor Company of Ryan Lochte’s which announced to end the contract with him after the controversy.
The second company which announced to disassociate themselves with Ryan lochte is the Ralph Lauren Company which is a fashion associated firm.
The third Company to announce the end of contract is the Airweave Company which is a mattress Company and official sponsor of Olympics as well.
And lastly this Company. Up till now Ryan lochte has lost his four major sponsors because of this exaggerated story and also his reputation is at risk as he tried to achieve fame in such a way.