Speedo drops sponsorship of Ryan Lochte - WDRB 41 Louisville News

Speedo drops sponsorship of Ryan Lochte

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(AP Photo/Michael Sohn, File). FILE - In this Tuesday, Aug. 9, 2016, file photo, United States' Ryan Lochte checks his time in a men's 4x200-meter freestyle heat during the swimming competitions at the 2016 Summer Olympics, in Rio de Janeiro. (AP Photo/Michael Sohn, File). FILE - In this Tuesday, Aug. 9, 2016, file photo, United States' Ryan Lochte checks his time in a men's 4x200-meter freestyle heat during the swimming competitions at the 2016 Summer Olympics, in Rio de Janeiro.

NEW YORK (AP) -- Speedo is the first major company to drop its sponsorship of swimmer Ryan Lochte.

The swimsuit maker owned by PVH in New York says that it doesn't condone behavior that is counter to its values.

Lochte fabricated a tale that he was robbed at gunpoint in Rio de Janeiro during the Olympics. He later apologized.

Speedo says it is donating $50,000 from Lochte's sponsorship fee to the global charity Save the Children for children in Brazil.

Copyright 2016 Associated Press. All rights reserved.

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