Financial Lifeline Thrown To Ryan Lochte

Ryan Lochte, the four-time Olympian and 12-time Olympic medalist, dominated headlines at the 2016 Rio Summer Olympics for all the wrongs reasons. From underwhelming performances at the tournament to lying to the police and the media, it appeared Lochte had hit the lowest point of his career. More specifically, the 12-time medalist could only manage a fifth place finish in the 200-meters individual medley. Additionally, Lochte and three other Olympic swimmers on Team USA –Lochte, James Feigen, Gunnar Bentz and Jack Conger—vandalized a gas station while drunk. Security guards at the station confronted the swimmers and asked them to pay $50 for the damage they had caused. Following this incident, the swimmers filed a complaint with the Brazilian police, claiming they had been robbed at gunpoint. However, police investigations revealed the swimmers fabricated the robbery story in an attempt to get themselves out of trouble. The police revelations forced the swimmers to offer an apology and the US Olympic Committee to take disciplinary measures against the four swimmers. In particular, the committee hit Ryan Lochte with a 10-month sanction and withheld his $100,000 bonus money, which he was to receive for winning a gold medal in the 4×200 men’s freestyle race in Rio. Additionally, Lochte agreed to pay $10,800 to a charity in Brazil to settle a case brought by Brazilian authorities against him. This was a steep fall from grace for an athlete who won two golds, two silvers and a bronze at the previous Summer Olympics held in London.

Lost Endorsement Deals

Expectedly, most of Lochte’s major sponsors were keen to distance themselves from him in light of this scandal. Some of the brands that moved swiftly to terminate their endorsement contracts with the 12-time Olympic medalist included Speed, Airwave, Gentle Hair Removal and Polo Ralph Lauren. These brands felt that Lochte’s behavior in Brazil could tarnish their reputation. For instance, Speedo, which had worked with Lochte for over a decade, said that it would not accommodate behavior that is counter to what the brand represents. Additionally, it said that would donate a portion of Lochte’s fee to the Save the Children Fund, a non-governmental organization that promotes children’s rights in developing countries, for the children of Brazil. Syneron-Candela (ELOS), the company that owns Gental Hair Removal product, expressed similar sentiments, saying that it expects its employees as well as business partners to uphold the high standards associated with the company. On their parts, Ralph Lauren and Airwave said their endorsement deals with the 32-year-old swimmer were specifically for the 2016 Summer Olympics Games in Brazil and would not seek to extend the deals.

Dancing with the Stars

The Rio Summer Olympics scandal and the ensuing aftermath certainly affected Lochte mentally. In fact, Lochte recently told David Wharton, a reporter with the Los Angeles Times, that the Rio debacle caused him to suffer emotional distress that he even considered quitting swimming completely. In fact, Lochte briefly traded the swimming pool for the dance floor when he successfully auditioned for the 23rd season of ABC’s “Dancing with the Stars” competition. However, some of the show’s fans were unhappy with his inclusion in the show and actually expressed their hostility towards him during the show’s first telecast, leading to the arrest of two fans. The altercation proved to be a blessing in disguise as it turned Lochte a sympathetic figure, with everyone involved in the show, including fellow celebrities, cast members dancers offering him their support. Because of this, Lochte was able to survive on the show longer than six other contests, which gave him a confidence boost. Additionally, news that his fiancée, Kayla Rae Reid, was pregnant inspired him to continue pursuing his passion for swimming. Consequently, the 32-year-old athlete has recently resumed training at USC under the supervision of coach Dave Salo. His training partners include younger elite-level swimmers such as Ous Mellouli and Conor Dwyer. Lochte’s goal is to make the American swimming team for the 2020 Tokyo Olympics. To aid in his preparation, he plans to participate in competitions that fall outside the scope of the 10-month national team sanction, such as the US Masters Swimming championship.

Financial Lifeline Thrown to Ryan Lochte

On the financial front, Ryan Lochte has signed new endorsement deals with various brands including Pine Bros. cough drops and Robocopp. However, perhaps his most notable endorsement deal is with Debt.com, an online financial management company. According to Don Silvestri, Debt.com president and former NFL star, Lochte is the ideal candidate to deliver the company’s message because he (Lochte) understands the concept of a new beginning. As part of the deal, Lotche will feature in a series of ads for Debt.com. Additionally, Lotche will donate a portion of his earnings from the deal with Debt.com to Parent Project Muscular Dystrophy, an organization that deals exclusively with Duchenne muscular dystrophy.

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  1. It was actually only Lochte that caused the damage. My daughter was on the US National Team with him and it currently a teammate of Bentz. It was a series of bad decisions by that group of young men, but not all of them were part of the vandalizing. Just want to clarify that part.
    Financial Coach Brad recently posted..Meal Planning Service: 5 Ways A Meal Planning Service Can Improve Your LifeMy Profile

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Financial Lifeline Thrown To Ryan Lochte

Ryan Lochte, the four-time Olympian and 12-time Olympic medalist, dominated headlines at the 2016 Rio Summer Olympics for all the wrongs reasons. From underwhelming performances at the tournament to lying to the police and the media, it appeared Lochte had hit the lowest point of his career. More specifically, the 12-time medalist could only manage a fifth place finish in the 200-meters individual medley. Additionally, Lochte and three other Olympic swimmers on Team USA –Lochte, James Feigen, Gunnar Bentz and Jack Conger—vandalized a gas station while drunk. Security guards at the station confronted the swimmers and asked them to pay $50 for the damage they had caused. Following this incident, the swimmers filed a complaint with the Brazilian police, claiming they had been robbed at gunpoint. However, police investigations revealed the swimmers fabricated the robbery story in an attempt to get themselves out of trouble. The police revelations forced the swimmers to offer an apology and the US Olympic Committee to take disciplinary measures against the four swimmers. In particular, the committee hit Ryan Lochte with a 10-month sanction and withheld his $100,000 bonus money, which he was to receive for winning a gold medal in the 4×200 men’s freestyle race in Rio. Additionally, Lochte agreed to pay $10,800 to a charity in Brazil to settle a case brought by Brazilian authorities against him. This was a steep fall from grace for an athlete who won two golds, two silvers and a bronze at the previous Summer Olympics held in London.

Lost Endorsement Deals

Expectedly, most of Lochte’s major sponsors were keen to distance themselves from him in light of this scandal. Some of the brands that moved swiftly to terminate their endorsement contracts with the 12-time Olympic medalist included Speed, Airwave, Gentle Hair Removal and Polo Ralph Lauren. These brands felt that Lochte’s behavior in Brazil could tarnish their reputation. For instance, Speedo, which had worked with Lochte for over a decade, said that it would not accommodate behavior that is counter to what the brand represents. Additionally, it said that would donate a portion of Lochte’s fee to the Save the Children Fund, a non-governmental organization that promotes children’s rights in developing countries, for the children of Brazil. Syneron-Candela (ELOS), the company that owns Gental Hair Removal product, expressed similar sentiments, saying that it expects its employees as well as business partners to uphold the high standards associated with the company. On their parts, Ralph Lauren and Airwave said their endorsement deals with the 32-year-old swimmer were specifically for the 2016 Summer Olympics Games in Brazil and would not seek to extend the deals.

Dancing with the Stars

The Rio Summer Olympics scandal and the ensuing aftermath certainly affected Lochte mentally. In fact, Lochte recently told David Wharton, a reporter with the Los Angeles Times, that the Rio debacle caused him to suffer emotional distress that he even considered quitting swimming completely. In fact, Lochte briefly traded the swimming pool for the dance floor when he successfully auditioned for the 23rd season of ABC’s “Dancing with the Stars” competition. However, some of the show’s fans were unhappy with his inclusion in the show and actually expressed their hostility towards him during the show’s first telecast, leading to the arrest of two fans. The altercation proved to be a blessing in disguise as it turned Lochte a sympathetic figure, with everyone involved in the show, including fellow celebrities, cast members dancers offering him their support. Because of this, Lochte was able to survive on the show longer than six other contests, which gave him a confidence boost. Additionally, news that his fiancée, Kayla Rae Reid, was pregnant inspired him to continue pursuing his passion for swimming. Consequently, the 32-year-old athlete has recently resumed training at USC under the supervision of coach Dave Salo. His training partners include younger elite-level swimmers such as Ous Mellouli and Conor Dwyer. Lochte’s goal is to make the American swimming team for the 2020 Tokyo Olympics. To aid in his preparation, he plans to participate in competitions that fall outside the scope of the 10-month national team sanction, such as the US Masters Swimming championship.

Financial Lifeline Thrown to Ryan Lochte

On the financial front, Ryan Lochte has signed new endorsement deals with various brands including Pine Bros. cough drops and Robocopp. However, perhaps his most notable endorsement deal is with Debt.com, an online financial management company. According to Don Silvestri, Debt.com president and former NFL star, Lochte is the ideal candidate to deliver the company’s message because he (Lochte) understands the concept of a new beginning. As part of the deal, Lotche will feature in a series of ads for Debt.com. Additionally, Lotche will donate a portion of his earnings from the deal with Debt.com to Parent Project Muscular Dystrophy, an organization that deals exclusively with Duchenne muscular dystrophy.

Enjoy Plunged in Debt?

Pid

Subscribe to get our latest content by email.

Powered by ConvertKit

  1. It was actually only Lochte that caused the damage. My daughter was on the US National Team with him and it currently a teammate of Bentz. It was a series of bad decisions by that group of young men, but not all of them were part of the vandalizing. Just want to clarify that part.
    Financial Coach Brad recently posted..Meal Planning Service: 5 Ways A Meal Planning Service Can Improve Your LifeMy Profile

Speak Your Mind

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