Speedo announced Monday that it has dropped U.S. swimmer Ryan Lochte as an endorser after he admitted to “over-exaggerating” an armed-robbery claim made during the Rio Olympics. I am proud of the accomplishments that we have achieved together.”RelatedThe swimwear company and Lochte signed a reported 10-year deal in 2006, so it was set to expire this year. But Yahoo’s Pat Forde notes that the loss of Speedo will be “a significant blow to Lochte” because swimwear companies often make up a sizeable portion of a swimmer’s sponsorship portfolio. And, given his advanced age for an Olympic athlete (32), future deals seem unlikely to materialize, especially in the wake of the Rio incident. “Ryan Lochte could have helped himself more by making his apology in front of a camera or at a press conference, difficult as that may be.”

Source: National Post August 22, 2016 16:07 UTC