Honesty is the best policy, and United States swimmer Ryan Lochte just learned that lesson the hard way.
Lochte, trying to look like a hero, fabricated details regarding what happened at a gas station in Rio. It was a bad look for him, as Rio marked the final Olympics he’ll compete in, and was a lot of egg on his face.
He’s losing out on a lot of money as well.
All four of Lochte’s commercial sponsors — Speedo, Ralph Lauren, Airweave and Gentle Hair Removal — terminated their contracts with him. That’s going to cost him a sizable amount of money.
Industry sources tell me Lochte lost about $1 million in current endorsement deals today.
— Darren Rovell (@darrenrovell) August 22, 2016
Lochte made a stupid mistake to create attention to himself, and now he’s paying for it.