Speedo, Ralph Lauren Give Ryan Lochte the Boot

Ryan Lochte at a press conference in the Main Press Center on day 7 of the Rio Olympics on Aug. 12, 2016, in Rio de Janeiro
Matt Hazlett/Getty Images

Easy come, easy go. Two of Ryan Lochte's biggest sponsors have kicked him to the curb after the swimmer shamelessly lied about being mugged in Rio de Janeiro.

Both Speedo and Ralph Lauren have severed ties with the Lochte.

"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," Speedo said in its statement. "We appreciate his many achievements and hope he moves forward and learns from this experience."


Ralph Lauren expressed the same sentiments.

"Ralph Lauren continues to proudly sponsor the U.S. Olympic and Paralympic Team and the values that its athletes embody," said the company's statement. "Ralph Lauren's endorsement agreement with Ryan Lochte was specifically in support of the Rio 2016 Olympic Games and the company will not be renewing his contract."

Speedo is now donating a $50,000 portion of Lochte's fee to Save the Children for children in Brazil.

On Friday, Lochte issued an "apology" for "overexaggerating": "I overexaggerated that story, and if I had never done that, we wouldn't be in this mess."


And on Monday he expressed sentiments about Speedo dropping him.

"I am grateful for the opportunities that our partnership has afforded me over the years," he said. "I am proud of the accomplishments that we have achieved together."

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