Market Overview

3 Endorsement Meltdowns In 2016

Share:

With the news of Ryan Lochte losing all four of his endorsement deals on Monday, we take a look at other key athletes that lost their endorsements in 2016.

Nike Inc (NYSE: NKE) dropped 8-time world boxing champion Manny Pacquiao earlier in the year after some anti-gay remarks. While campaigning for the Philippine Senate, the boxer likened gay people to animals. Nike found his comments to be "abhorent" and immediately dropped the boxer.

Related Link: Speedo And Ralph Lauren Drop Ryan Lochte

Maria Sharapova lost her deal with Swiss watchmaker Tag Heuer and had her deal with Porsche Automobil Holding SE (OTC: POAHY) suspended after the tennis star received a two-year suspension for testing positive for a banned substance. Nike and tennis rack manufacturer Head kept their deals with Sharapova, saying she had made an "honest mistake."

Lochte may have set a record after losing all of his endorsements in just a few hours. Lochte has hired Justin Bieber's former crisis manager to help repair his image.

Posted-In: Manny Pacquiao Maria Sharapova Ryan LochteNews Sports General

 

Related Articles (NKE + POAHY)

View Comments and Join the Discussion!