Lochte signs new endorsement deal, legal woes persist in Brazil

Thu Aug 25, 2016 6:45pm EDT
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By Rodrigo Viga

RIO DE JANEIRO (Reuters) - U.S. swimmer Ryan Lochte landed a new endorsement deal on Thursday days after losing all his major sponsors even as the fallout from the Rio Olympics continued as Brazilian police recommended he be charged with falsely reporting a crime.

Pine Bros Softish Throat Drops, which makes cough drops, said it had signed Lochte, a 12-time Olympic medalist, for a television commercial and print ads.

Lochte, 32, lost all four of his major sponsors on Monday, including Speedo USA and Ralph Lauren Corp (RL.N: Quote), following his apology for an "exaggerated" story about being robbed at gunpoint in Rio de Janeiro after a party.

"We all make mistakes, but they're rarely given front page scrutiny," Pine Bros Chief Executive Rider McDowell said in a statement on Thursday. "I'm confident that Pine Bros fans will support our decision to give Ryan a second chance."

Lochte's account of being held up with three team mates by men dressed as police officers embarrassed the host city, angered local officials and dominated news coverage of South America's first Olympics, amid heightened concerns over security in the crime-ridden metropolis.

Police and Lochte's teammates subsequently said that he had committed an act of vandalism at a gas station and became embroiled in a dispute with employees, who had demanded compensation. One of the security staff drew his weapon when the row became heated, police said.

Rio police said in a statement they had recommended that prosecutors bring charges against Lochte for falsely reporting a crime - a minor misdemeanor normally punishable by a fine.

Teammate Jimmy Feigen agreed last week to pay 35,000 real ($10,833) to a charity in Rio in compensation for having the same charges dropped and the return of his passport, which had been seized by police, authorities said.   Continued...

Aug 9, 2016; Rio de Janeiro, Brazil;  Conor Dwyer (USA) , Townley Haas (USA) , Ryan Lochte (USA) and Michael Phelps (USA) with their gold medals after the men's 4x200m freestyle relay final in the Rio 2016 Summer Olympic Games at Olympic Aquatics Stadium. Mandatory Credit: Jason Getz-USA TODAY Sports