Speedo drops sponsorship of Ryan Lochte

FILE - In this Tuesday, Aug. 9, 2016, file photo, United States' Ryan Lochte checks his time in a men's 4x200-meter freestyle heat during the swimming competitions at the 2016 Summer Olympics, in Rio de Janeiro, Brazil. Add two fresh entries to the increasingly popular genre of non-apology apologies. In a span of 15 hours, politician Donald Trump and Lochte both coughed up carefully crafted words of contrition, each without fully owning up to exactly what he’d done wrong. (AP Photo/Michael Sohn, File)

NEW YORK (AP) – Speedo is the first major company to drop its sponsorship of swimmer Ryan Lochte.

The swimsuit maker owned by PVH in New York says that it doesn’t condone behavior that is counter to its values.

Lochte fabricated a tale that he was robbed at gunpoint in Rio de Janeiro during the Olympics. He later apologized.

Speedo says it is donating $50,000 from Lochte’s sponsorship fee to the global charity Save the Children for children in Brazil.

(Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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