Sponsors drop Ryan Lochte after Olympic scandal

American swimmer Ryan Lochte has lost sponsorship deals with Speedo USA and Ralph Lauren following his conduct at the Olympic Games in Rio.

The 32-year-old and three of his team-mates were involved in a scandalous incident during the Games after a night of partying.

Having vandalised a toilet at a petrol station, the quartet were confronted by armed guards and asked to pay for the damage.

Lochte, a six-time gold winner, subsequently claimed the group had been robbed at gunpoint, before apologising for his "over-exaggerated" story.

But Speedo have released a statement which read: "Speedo USA today announces the decision to end its sponsorship of Ryan Lochte.

"As part of this decision, Speedo USA will donate a $50,000 portion of Lochte's fee to Save The Children, a global charity partner of Speedo USA's parent company, for children in Brazil.

"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.

"We appreciate his many achievements and hope he moves forward and learns from this experience."

Ralph Lauren, which kitted out Team USA for the Olympic opening and closing ceremonies in Rio, said it too was finished with Lochte.

"Ralph Lauren continues to proudly sponsor the US Olympic and Paralympic Team and the values that its athletes embody," it said in a statement.

"Ralph Lauren's endorsement agreement with Ryan Lochte was specifically in support of the Rio 2016 Olympic Games and the company will not be renewing his contract."

Lochte flew home after the incident but the three other swimmers, Gunnar Bentz, Jack Conger and Jimmy Feigen, remained in Brazil.

Bentz and Conger were questioned by police while Feigen agreed to make a donation of nearly $11,000 to a Brazilian charity, before his passport was returned and he was able to fly home.

All four of the Team USA members are subject to an International Olympic Commission investigation into their conduct.

Lochte is one of the most successful swimmers in Olympic history, with 12 medals in total, and he, Conger and Bentz were part of the gold-winning 4x200m freestyle relay squad in Rio.