Speedo announced Monday that it will no longer sponsor Ryan Lochte. Soon after, Ralph Lauren followed suit, saying it wouldn't renew its sponsorship of the Olympic swimmer. By Monday afternoon, Lochte lost all of his sponsors.
Lochte admitted on Saturday that he "overexaggerated" a story about being robbed at gunpoint at a gas station in Rio during the Olympics. There were conflicting reports about the incident with some accusing Lochte and three of his teammates of vandalism.
Lochte released a statement last week apologizing for what he had done.
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