Ryan Lochte loses Speedo sponsorship after Rio episode

Speedo has axed its sponsorship of Ryan Lochte after the US swimmer’s account of being robbed at gunpoint in Rio. Announcing its decision, the swimwear firm said it does not condone behaviour that is counter to its values.

Lochte and three US team-mates said they were held up at gunpoint during the Olympics. He later apologised and said he had over-exaggerated what really happened because he had been drunk at the time.

Speedo said it is donating £38,000 (€44,000) from Lochte’s sponsorship fee to the global charity Save the Children to help youngsters in Brazil.