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Speedo USA Pulls Plug On Ryan Lochte Yet Parent Speedo Backs Sun* & Efimova*
- Updated: August 22, 2016
Speedo USA has confirmed that it is dropping its endorsement deal with Ryan Lochte. Questions of corporate choices abound.
Speedo USA, whose parent company continued to sponsor China’s Sun Yang* after he tested positive for a banned substance and China attempted to cover up the case and signed up Yuliya Efimova* after the Russian returned from a doping ban, released its Lochte verdict on Twitter.
The swimsuit brand said the company cannot condone the swimmer’s behaviour and would donate a $50,000 portion of Lochte’s deal to Save the Children, specifically for children in Brazil.
Speedo issued the following statement:
“Speedo USA today announces the decision to end its sponsorship of Ryan Lochte. As part of this decision, Speedo USA will donate a $50,000 portion of Lochte’s fee to Save The Children, a global charity partner of Speedo USA’s parent company, for children in Brazil. 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.”
Lochte stands to take a big hit on his estimated $2.3 million in annual endorsement deals. His backers included Speedo and …
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