Speedo has ended its sponsorship of Ryan Lochte
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Over the past week, Lochte admitted that he "over-exaggerated" a story about getting robbed at gun point in a gas station in Rio during the Olympics. There were conflicting reports about the incident - with some accusing Lochte and his friends of vandalism.
Lochte released a statement later in the week to apologize for what he had done.
Speedo USA, however, said in a statement - available below - that it "cannot condone behavior that is counter to the values this brand has long stood for." Speedo USA will be donating $50,000 of Lochte's sponorship to Save The Children, to benefit children in Brazil.
The official response regarding our sponsorship of Ryan Lochte. pic.twitter.com/0DdP2RyceD
- Speedo USA (@SpeedoUSA) August 22, 2016
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