Swimwear maker Speedo and luxury retailer Ralph Lauren Corp. ended their sponsorship contracts with Ryan Lochte, days after the U.S. swimmer admitted to exaggerating his story about being robbed at gunpoint in Rio during the Olympics.
The incident embarrassed the host city, angered the local police and government and dominated news coverage of South America's first Olympics, leading the U.S. Olympic Committee to issue an apology.
Lochte, a 12-time Olympic medalist, apologized on Saturday in an interview to Brazil's largest broadcaster, Globo TV. "I wasn't lying to a certain extent," he said. "I over-exaggerated what was happening to me."
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