Ryan Lochte's Sponsorship with Speedo Canceled by Company

The first major fallout of Ryan Lochte's robbery fabrication came Monday, as swimming apparel company Speedo ended its longstanding relationship with the Team USA star.

Ben Fischer of SportsBusiness Journal relayed a statement from Speedo: 

"I respect Speedo's decision and am grateful for the opportunities that our partnership has afforded me over the years," Lochte said, via the Associated Press (h/t ESPN.com). "I am proud of the accomplishments that we have achieved together."

Following Speedo's announcement, Ralph Lauren announced it would not renew Lochte's contract, according to Reuters (via CNBC Now). Gentle Hair Removal also ended its partnership with Lochte on Monday, per Darren Rovell of ESPN.

Lochte, 32, apologized for "over-exaggerating" a story he told Rio de Janeiro police about being allegedly robbed and held at gunpoint while at the 2016 Rio Olympic Games. Security footage later showed Lochte and three teammates were instead held by security guards after damaging the bathroom of a gas station. 

"That's why I'm taking full responsibility for it is because I over-exaggerated that story," Lochte told NBC's Matt Lauer (via Rachel Axon of USA Today). "If I never had done that, we wouldn't be in this mess. None of this would have happened and it was my immature behavior."

Lochte also spoke to TMZ on Monday about his future following the incident:

U.S. Olympic Committee CEO Scott Blackmun told Tim Reynolds of the Associated Press that "further action" would be taken against Lochte, Jack Conger, Gunnar Bentz and James Feigen. It's unclear what type of discipline the USOC could take, given the unprecedented situation. 

"We all understand that they let down our athletes. They let down Americans," Blackmun said. "And they really let down our hosts in Rio who did such a wonderful job, and we feel very badly about that. I think we ended up in the right place in terms of being able to shine a light on what really happened there."

Brazilian police charged Lochte and Feigen with false reporting of a crime. Feigen agreed to pay more than $10,000 to a sports academy to have his passport returned. 

"After a long deliberation, this agreement was reached…he will donate 35,000 real [approximately $10,800] to an institute, and with that the case is resolved," said Feigen's lawyer, Breno Melaragno, per Alastair Jamieson of NBC News.

Lochte was already back in the United States after the charges were filed. While he is still facing those charges, it's not believed Lochte will return to Brazil at this time. It's also highly unlikely the Brazilian government will try to have him extradited to the country to face the charges.

Lochte is one of the most decorated U.S. swimmers of all time, with 12 career Olympic medals, including six gold medals. He was part of the United States' gold-medal-winning 4x200-meter relay team in Rio.

Follow Tyler Conway (@jtylerconway) on Twitter.