Swimmer Ryan Lochte loses Speedo deal over 'robbery' claim
Ryan Lochte has lost his first major sponsor after Speedo USA announced it is dropping the swimmer over a drunken incident during the Rio Olympics that he initially described as an armed robbery.
In a brief statement, Speedo USA said it would donate £38,000 of Lochte’s fee to Save The Children to benefit needy youngsters in Brazil.
At first, Lochte said he and three swimming team-mates were robbed after their taxi was pulled over by armed men posing as police the night after the swimming competition ended in Rio de Janeiro.
He has since apologised for embellishing his version of events.