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Sports

Lochte loses major sponsors after Rio incident

Opening sequence

Opening sequence

Sports

Lochte loses major sponsors after Rio incident

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17:48
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COMING UP:Lochte loses major sponsors after Rio incident

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Transcript

00:00:00
>> Everyone that came together to put, what a wonderful games on, I just wanna say I am truly, 110%, I am sorry, and it won't happen again. I learned from it and.>> An apology to a nation apparently not enough to clean a now muddied name. US Olympian Ryan Lochte losing all four of his major sponsors on Monday.
00:00:24
Speedo USA and Ralph Lauren, ditching the swimmer over his exaggerated story about being robbed at gunpoint in Rio. Speedo saying, we'll donate $50,000 of Lochte's fee to their charity partner Save The Children. Other brands distancing themselves from the gold medalist, a hair removal company and a Japanese mattress maker, after initially standing by the swimmer's endorsement.
00:00:49
The trouble started last week, after surveillance video contradicted Lochte's tale that he and three teammates have been held up by men posing as police and that a gun had been pointed at his head. That embarrassed Brazil, already suffering a series of assaults against visitors. So local police hit back, saying the swimmers made up the story to cover up vandalizing the gas station.
00:01:16
Now back home, the team has faces calls for the truth in a fallout which threatened to overshadow the end of the games. The US Olympic Committee has set up their own disciplinary panel to investigate the athletes. The swimmers will no doubt hope that their ruling will not also be overblown.
00:01:34
>> I wasn't lying to a certain extent. I over exaggerated what was happened.