Lochte Scandal Results In Lost Sponsors
By now, you’ve inevitably heard of the scandal involving several of the U.S. men’s Olympic swim team members and a rumored mugging that wasn’t, but what exactly does this mean for the future of these athletes?
For Olympic swimmer Ryan Lochte, this could be far more detrimental than meets the eye.For one thing, it was recently reported that four of the major sponsors of Lochte actually walked away from him this past Monday, pulling their sponsorship in light of recent events.
These four sponsors, Speedo, Polo Ralph Lauren, Airweave and Gentle Hair Removal have pulled their sponsorship off Lochte, completely severing ties in light of the recent allegations against him.
These cut ties came after Lochte admitted to lying about being robbed at gunpoint while attending the Olympic games in Rio, a country that is already very sensitive about their crime rates and desperately trying to make the country a safer place.
So suffice it to say, this accusation hit home with the country, and they didn’t take it lightly.
And neither did Lochte’s sponsors.
“While we have enjoyed a winning relationship with Ryan for over a decade and he has been an important member of the Speedo team, we cannot condone behavior that is counter to the values this brand has long stood for. We appreciate his many achievements and hope he moves forward and learns from this experience.”
As far as Ralph Lauren goes, the company had only signed Lochte for an endorsement deal specifically for the 2016 Olympic games in Rio. According to the company, they will not be renewing said contract.
Ralph Lauren has also gone so far as to remove a photo of Lochte wearing an Olympic medal from its Twitter homepage on Monday.
And last, but certainly not least, Airweave, the company that provided mattresses for the U.S. Olympic teams during the 2016 Olympics in Rio, said that they will also be ending their partnership with Lochte following the games.
In the agreement, Airweave’s partnership with Lochte was “in support of the Rio 2016 Olympic Games,” freeing the company from further partnerships with the swimming star.
However, Lochte is still found all over the Gentle Hair Removal website. The company made Lochte the figurehead of their advertising campaigns back in April when they signed the deal with him, and he appeared in a promotional video for them as well. In the video, Lochte says this service is “the best thing that’s ever happened. I don’t have to worry about shaving anymore.”
He also tweeted about the company’s hair removal services on August 17, stating, “It’s permanent, fast and nearly painless.”
However, Gentle Hair Removal’s parent company, Syneron-Candela (ELOS) has made an announcement that the company will join the other three in severing ties with Lochte.
According to ELOS, “We hold our employees to high standards, and we expect the same of our business partners. We wish Ryan well on his future endeavors and thank him for the time he spent supporting our brand.”
So rewind, what happened? And why are all of these sponsors reacting so strongly?
Back in Rio, Lochte and three teammates from the U.S. men’s Olympic swim team claimed to be robbed at gunpoint after a party. However, it was later revealed that the four athletes had allegedly vandalized a gas station. The Brazilian authorities denied robbery allegations.
On Friday of last week, he apologized and said that he should have been “more careful and candid” from the beginning.
And on Saturday, in an interview with NBC, Lochte said, “I over-exaggerated that story and if I had never done that we wouldn’t be in this mess.”
Another statement from the star athlete on Monday said he respects the decision made by Speedo to end his sponsorship.
In his statement, he said, “I am grateful for the opportunities that our partnership has afforded me over the years. I am proud of the accomplishments that we have achieved together.”
While Speedo’s initial standpoint was to stay out of the matter entirely, claiming their policy is not to comment on ongoing legal investigations but that they would be following the situation, on Monday, they made their decision.
The company said it would donate $50,000 from Lochte’s fee to a charity in Brazil: Save the Children.
And while Macy’s was also rumored to have pulled away from Lochte, this has been proven false. According to the company after removing Lochte advertisements from the store, this has nothing to do with the issue at hand, but rather is a result of a scheduled marketing change in the stores.
Still, the removal of Lochte’s picture advertisements is easily read as a result of the situation at hand.
However, according to Macy’s, “As scheduled, we are transitioning out all Olympic visual as the games ended yesterday, and we are moving into our fall fashion message.”
Score one for Lochte?
Only time will tell.
Apply to Write for Uloop NewsJoin the Uloop News Team
Discuss This Article
More Uloop Sports Articles
Recent FSU News Articles
RECENT FSU CLASSIFIEDS
WRITE FOR ULOOPApply to Write for Uloop News
GET TOP STORIES DELIVERED WEEKLY
TOP 5 NEWS ARTICLES
BROWSE OTHER COLLEGES
- By CollegeUniversity of Central FloridaFlorida Atlantic UniversityFlorida International UniversityFlorida State UniversityUniversity of FloridaUniversity of South FloridaUniversity of North FloridaSaint Leo UniversityValencia Community CollegeBarry UniversityFlorida Community CollegeEdison State CollegeMiami Dade CollegeUniversity of West FloridaEmbry-Riddle Aeronautical UniversityClearwater Christian CollegeFlorida Institute of TechnologyAi Miami International University of Art and DesignAmerican Intercontinental UniversityBethune-Cookman UniversityCarlos Albizu UniversityChipola CollegeDaytona State CollegeEckerd CollegeFlagler CollegeFlorida Agricultural and Mechanical UniversityFlorida Coastal School of LawFlorida Gulf Coast UniversityFlorida Hospital College of Health SciencesFlorida Memorial UniversityEverest UniversityFlorida Southern CollegeFull Sail UniversityInternational Academy of Design and TechnologyInternational Academy of Design and TechnologyJacksonville UniversityKeiser UniversityLincoln College of TechnologyLynn UniversityNova Southeastern UniversityNorthwest Florida State CollegePalm Beach Atlantic UniversityRingling College of Art and DesignRollins CollegeSt. Thomas UniversitySoutheastern UniversitySouthwest Florida CollegeSt. Petersburg CollegeStetson UniversityThe Art Institute of Fort Lauderdale IncThe University of TampaWarner UniversityDaytona State CollegeHillsborough Community CollegeBroward CollegeSanta Fe CollegeTallahassee Community CollegeSt. Johns River Community CollegeBrevard Community CollegeManatee Community CollegeSeminole State College of FloridaKaplan UniversityIndian River State CollegePalm Beach State CollegeEastern Florida State CollegeFlorida Gateway CollegeGulf Coast Community College Lake-Sumter State CollegeNorth Florida Community CollegePasco-Hernando State CollegePensacola State CollegeSouth Florida State CollegeSt Johns River State CollegeValencia CollegeAcademy for Five Element AcupunctureAcademy for Nursing and Health OccupationsAcademy of Career TrainingAcademy of CosmetologyAcademy of Healing Arts Massage & Facial Skin CareAdvance Science InstituteAdvanced Technical CentersAM College LLCAmerican Advanced Technicians InstituteAmerican Health InstituteAmerican Institute of BeautyAmerican Medical AcademyAnton Aesthetics AcademyAparicio-Levy Technical CenterArgosy University-SarasotaArgosy University-TampaArtistic Nails and Beauty Academy-LakelandArtistic Nails and Beauty Academy-TampaATA Career EducationAtlantic Institute of Oriental MedicineAve Maria School of LawAviation Institute of Maintenance-OrlandoAviator College of Aeronautical Science and TechnologyBarry University Law SchoolBeacon CollegeBeauty Anatomy Institute of Cosmetology and WellnessBeauty and Health InstituteBeauty Schools of AmericaBeauty Schools of America-HialeahBeauty Schools of America-HomesteadBeauty Schools of America-MiamiBeauty Schools of America-North Miami BeachBenes International School of BeautyBoca Beauty AcademyBradford-Union Technical CenterBrewster Technical CenterBurnett International CollegeCambridge Institute of Allied Health & TechnologyCambridge Institute of Health & TechnologyCape Coral Institute of TechnologyCDA Technical InstituteCelebrity School of BeautyCentral Florida InstituteCentura InstituteCharlotte Technical CenterCHOICE High School and Technical CenterCity College-Altamonte SpringsCity College-GainesvilleCity College-HollywoodCity College-MiamiCollege of Business and Technology-KendallCompu-Med Vocational Careers CorpConcorde Career Institute-JacksonvilleConcorde Career Institute-TampaCortiva Institute-FloridaCosmix School of Makeup ArtistryCozmo Beauty SchoolD A Dorsey Educational CenterDade Medical College-HollywoodDade Medical College-JacksonvilleDade Medical College-MiamiDade Medical College-West Palm BeachDaytona CollegeDigital Media Arts CollegeEast West College of Natural MedicineEdward Waters CollegeEmpire Beauty School-West PalmEternity Cosmetology SchoolEureka Institute of Health and BeautyEverest Institute-KendallEverest Institute-North MiamiEverest University-BrandonEverest University-JacksonvilleEverest University-MelbourneEverest University-Orange ParkEverest University-South OrlandoEverest University-TampaEverglades UniversityEverglades University-SarasotaFashion Focus Hair AcademyFirst Coast Barber AcademyFirst Coast Technical CollegeFlagler Technical InstituteFlorida AcademyFlorida Barber AcademyFlorida CenterFlorida College of Integrative MedicineFlorida College of Natural Health-BradentonFlorida College of Natural Health-MaitlandFlorida Institute of Recording Sound and TechnologyFlorida National University Training CenterFlorida National University-South CampusFlorida Panhandle Technical CollegeFlorida Polytechnic UniversityFlorida School of MassageFlorida Technical CollegeFlorida Vocational InstituteFort Myers Institute of TechnologyFort Pierce Beauty AcademyFortis College-Winter ParkFortis Institute-JacksonvilleFortis Institute-MiamiFortis Institute-MulberryFortis Institute-Port Saint LucieFutura Career InstituteFuture-Tech InstituteGalen College of Nursing-Tampa BayGeorge Stone Technical CenterGeorge T Baker Aviation SchoolGolf Academy of America-Altamonte SpringsGooding Institute of Nurse AnesthesiaHair Design InstituteHeritage Institute-Ft MyersHerzing University-Winter ParkHobe Sound Bible CollegeHollywood Institute of Beauty CareersHollywood Institute of Beauty Careers-CasselberryHollywood Institute of Beauty Careers-West Palm BeachImmokalee Technical CenterInterAmerican Technical InstituteInternational Training CareersITT Technical Institute-BradentonITT Technical Institute-Deerfield BeachITT Technical Institute-HialeahITT Technical Institute-Lake MaryITT Technical Institute-PensacolaITT Technical Institute-TallahasseeITT Technical Institute-TampaITT Technical Institute-West Palm BeachJohnson University FloridaJones College-JacksonvilleJose Maria Vargas UniversityKaizen Beauty AcademyKeiser University- MiamiKeiser University-LakelandKeiser University-OrlandoKeiser University-Pembroke PinesKeiser University-TallahasseeKeiser University-West Palm BeachKnox Theological SeminaryLake Technical CollegeLee Professional InstituteLindsey Hopkins Technical Education CenterLively Technical CenterLoraines Academy IncLorenzo Walker Institute of TechnologyManatee Technical InstituteManhattan Hairstyling AcademyManhattan Hairstyling Academy - NorthMarchman Technical Education CenterMarion County Community Technical and Adult Education CenterMattia CollegeMattia College -MCI Institute of Technology-Boca RatonM-DCPS The English CenterMedTech Institute-Orlando CampusMercy Hospital School of Practical Nursing-Plantation General HospitalNew Concept Massage and Beauty SchoolNew Professions Technical InstituteNorth Florida Cosmetology Institute IncNorthwood University-FloridaNouvelle InstituteOrlando TechParisian Spa InstitutePaul Mitchell the School-Fort MyersPaul Mitchell the School-OrlandoPaul Mitchell the School-TampaPinellas Technical College-ClearwaterPinellas Technical College-St. PetersburgPolytechnic University of Puerto Rico-OrlandoPrestige Health & Beauty Sciences AcademyProfessional Hands InstituteRadford M Locklin Technical CenterRasmussen College-FloridaRasmussen College-Fort MyersRasmussen College-New Port RicheyRasmussen College-Tampa/BrandonRegency Beauty Institute-CarrollwoodRegency Beauty Institute-ClearwaterRemington College-Tampa CampusRidge Career CenterRobert Morgan Educational CenterSAE Institute of Technology-MiamiSaint John Vianney College SeminarySaint Vincent de Paul Regional SeminarySanford-Brown College-TampaSarasota School of Massage TherapySheridan Technical CollegeSouth Florida Bible College and Theological SeminarySouth University-TampaStenotype Institute of Jacksonville Inc-JacksonvilleStrayer University-BrickellStrayer University-Fort Lauderdale CampusSummit Salon AcademySuncoast Technical CollegeSunstate AcademySuwannee-Hamilton Technical CenterTalmudic College of FloridaTaylor CollegeTaylor Technical InstituteThe Baptist College of FloridaThe Salon Professional Academy-MelbourneTotal International Career InstituteTraviss Career CenterTrinity Baptist CollegeTulsa Welding School-JacksonvilleUltimate Medical Academy-ClearwaterUltimate Medical Academy-TampaUnited Education InstituteUniversity of South Florida-Sarasota-ManateeVirginia College-Fort PierceVirginia College-PensacolaWalton Career Development CenterWestside TechWithlacoochee Technical InstituteWolford CollegeWyotech-DaytonaYechanlaz Instituto VocacionalYeshivah Gedolah Rabbinical College
- By State
- By City