The split occurs immediately after Speedo parted ways with the disgraced Olympian

By Dylan Kickham
Updated August 22, 2016 at 06:51 PM EDT
Credit: MARTIN BUREAU/AFP/Getty Images

Ryan Lochte’s sponsors are swimming away from him at record speeds following the news he fabricated a story about being robbed in Rio de Janeiro.

On Monday morning, Speedo ended its sponsorship of Lochte, and Ralph Lauren has immediately followed suit by announcing the clothing brand will not renew its sponsorship contract with the Olympic swimmer.

“Ralph Lauren continues to proudly sponsor the U.S. Olympic and Paralympic Team and the values that its athletes embody,” the company said in a statement to the Associated Press. “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.”

It quickly became apparent that Lochte had lied about the robbery, and he publicly apologized for the story.