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Olympic Update (8/22)
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Many expected Ryan Lochte's sponsors to act quickly following his behavior in Rio, and on Monday, a major sponsor made a statement.
Speedo became the first major brand to drop its sponsorship of the 32-year-old swimmer, saying that the company does not condone his behavior.
"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.