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.

Speedo USA has announced it is ending its sponsorship of US swimmer Ryan Lochte amid a backlash over his behaviour following the Rio Olympics.

The swimwear firm said: “We appreciate his many achievements and hope he moves forward and learns from this experience.”

The 32-year-old had initially said that he and three teammates had been pulled over in their taxi by gunmen posing as police who then robbed them. However, the group faced an angry backlash after police accused Lochte of fabricating the story to cover up vandalising a petrol station toilet.

Lochte has since apologised to Olympics host Brazil, saying he was “110%” sorry and blaming his immaturity for causing “all this ruckus”.