Ryan Lochte Gets Dropped By Speedo Over Robbery Lie

Ryan Lochte has lost one of his biggest sponsors after Speedo dropped the U.S. swimmer for admitting to “over-exaggerating” a story about being robbed at gunpoint during the Rio Olympics.

Speedo released a statement about parting ways with 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,” the company announced Monday on Twitter. “We appreciate his many achievements and hope he moves forward and learns from this experience

Lochte has three endorsement deals left but he’s likely to lose all of them.