The first major fallout of Ryan Lochte's robbery fabrication came Monday, as swimming apparel company Speedo canceled its long-standing relationship with the Team USA star.
Ben Fischer of SportsBusiness Journal relayed a statement from Speedo:
— Ben Fischer (@BenFischerSBJ) August 22, 2016
Lochte, 32, apologized after "over-exaggerating" a story he told Rio de Janeiro police about being allegedly robbed and held at gunpoint while at the 2016 Summer Games. Security footage later showed Lochte and three teammates were instead held by security guards after damaging the bathroom of a gas station.
"That's why I'm taking full responsibility for it is because I over-exaggerated that story," Lochte told NBC's Matt Lauer, per Rachel Axon of USA Today.