Olympic swimmer Ryan Lochte lost a slew of sponsors in 2016, including Speedo, Ralph Lauren, and Airweave, after it transpired that he’d fabricated a story about being robbed at gunpoint in Rio de Janeiro during the 2016 Summer Olympics in Brazil.
In an NBC interview, the Olympic gold medallist later admitted that he had "over-exaggerated" the story, explaining: "All we know is that there was a gun pointed in our direction, and we were demanded to give money."
Brazilian authorities suggested that Lochte, along with three other men, had actually vandalised a petrol station while drunk, and paid security guards around $50 (£41) for the damage they'd caused before leaving.
In a statement about their decision to drop Lochte, Speedo declared: "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 behaviour that is counter to the values this brand has long stood for."
The swimwear brand also added that it would donate $50,000 (£41k) of his fee to children’s charities in Brazil.