Big-name brands such as swimwear maker Speedo and luxury fashion company Ralph Lauren have moved quickly to distance themselves from top US Olympic swimmer Ryan Lochte after a scandal in Rio de Janeiro in which he falsely claimed to have been robbed at gunpoint.
Lochte has also lost lesser-known sponsors such as Airweave, a Japanese mattress manufacturer, and Syneron-Candela, a skin care company. According to a report by Reuters news agency, all major sponsors have now severed their ties with him. “Sponsorship and endorsement deals typically include ‘morals clauses’ that allow sponsors to terminate deals early if they feel the athlete has behaved poorly in public,” Reuters said.
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