First major sponsor backs away from disgraced US swimmer Ryan Lochte

If you were wondering if Ryan Lochte’s ill-fated night out in Rio and boneheaded decision to make up a story about it would cost him financially, it has.

RELATED: More than Lochte’s hair was fake in Rio

Monday morning Speedo announced it has ended its sponsorship relationship with Lochte, the U.S. swimmer who was part of a scandal after reporting he had been robbed at gunpoint in Rio then having to back off the story.

Per CBS News, other sponsors including Ralph Lauren and Airweave previously announced they would be sticking with Lochte.

Other brands he has had endorsement deals with include Under Armour, Proctor and Gamble, Hilton and Louis Vuitton.

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