As new information emerges in Ryan Lochte’s Rio robbery case, the star swimmer’s sponsors could invoke so-called “morals clauses” in his endorsement contracts, potentially costing him millions in future income.
Speedo has already released a brief statement, saying, “Speedo is a sponsor of Ryan Lochte (USA). Speedo is following the situation, and has a policy not to comment on ongoing legal investigations.”
Lochte and three fellow swimmers claimed to have been robbed at gunpoint in Rio on August 14. However, new information suggests the foursome were actually caught vandalizing a gas station bathroom, and then fabricated the robbery story as a cover-up.
Image via Flickr/mike123