Pro athletes not only achieve magnificent feats in the arena, they are also frequently in the public eye. This makes them the perfect advocates for different brands looking to sell their products. Many athletes make even more money from their sponsorship deals than from their contracts.
But when these athletes do something wrong, they can cause blowback to the brands they represent and are subsequently dropped from the agreements. These negative actions can come in many forms from embarrassing situations to serious crimes. Below is a list of athletes who have lost major endorsement deals.
Sponsorship deals could be much more important for Olympic athletes than they are for players in the NBA or NFL. Without multi-million dollar contracts, swimmers and track athletes rely on their endorsements both as a salary and also to supplement their training.
After he concocted a fake kidnapping story during the Rio de Janeiro Olympics in 2016, Ryan Lochte lost his endorsement deals with Ralph Lauren, Speedo and Gentle Hair Removal. The loss of sponsorships cost the swimmer an estimated $5-$10 million.