In further fallout following the Rio gas station incident involving American swimmers Ryan Lochte, Gunnar Bentz, Jack Conger and Jimmy Feigen, longtime Lochte sponsor Speedo USA has announced it is ending its relationship with the 2nd most decorated swimmer of all-time.

In an official statement released via media outlets, Speedo states the following:

Speedo USA today announces the decision to end its sponsorship of Ryan Lochte. As part of this decision, Speedo USA will donate a $50,000 portion of Lochte’s fee to Save The Children, a global charity partner of Speedo USA’s parent company, for children in Brazil. While we have enjoyed a winning relationship with Ryan for over a decade and he has been an important member of the Speedo team, we cannot condone behavior that is counter to the values this brand has long stood for. We appreciate his many achievements and hope he moves forward and learns from this experience.

The discontinuation of Lochte’s sponsorship also comes in the wake of the United States Olympic Committee possibly seeking further disciplinary action against the foursome. Speaking to the media yesterday, Scott Blackmun, the USOC CEO, announced further action would be taken against the swimmers, although no details were given at this point.

“They let down our athletes,” Blackmun said. “They let down Americans.

“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.”

You can hear Lochte’s description of the gas station series of events in his interview with NBC here.