Debt.com Signs Lochte to Deal

Debt.com rescues swimmer Ryan Lochte from drowning. He was once one of the most famous swimmers in all the world. Unfortunately, during the Rio Olympics last year Lochte got into some hot water after exaggerating claims that he was robbed at gunpoint during a night out on the town with fellow Olympic Athletes. It didn't take long for his sponsorships to dry up and it started to look like the prolific swimmer's best days were behind him. That's when Debt.com stepped in to lend a helping hand.

Ryan Lochte was once an accomplished Olympic swimmer basking in the limelight that came with his success. He competed in 2008, '12, and '16 summer Olympics and won 12 medals, putting him behind only Michael Phelps in most medal counts for men's swimmers. His seven individual medals also put him near the top of the list. Lochte holds several world records, including the record for the 400-meter individual medley. It looked like his light would shine bright forever, that is the PR disaster last year during the Rio Olympics.

After returning from a night of drinking Lochte stated that he and four of his fellow swimmers were robbed at gunpoint by an armed security guard. However, soon the truth began to emerge. Lochte and the other four men had in fact been intoxicated and vandalized a gas station bathroom. According to Brazilian officials, the men were stopped by the guard and told they needed to pay for the damages on the spot. When one of the swimmers started to get belligerent a gun was pulled, they then paid the security guard and went on their way. Lochte apologized for his actions and admitted to over exaggerating the events later, but it was too late. His sponsors began to distance himself and his image was wrecked.

Exactly what happened that night is still unclear, but one thing is for certain Lochte was now a pariah in the media. It didn't take long for the story to spread between all of the major news networks and put Lochte front and center of the controversy. All four of his sponsors Speedo, Ralph Lauren, Airweave, and Gentle Hair Removal quickly dropped the swimmer after the truth came to light.

Luckily for Lochte, Debt.com saw the incident as a marketing gold mine. They quickly stepped in and endorsed the disgraced swimmer. The company is committed to giving American's a second chance "when life happen." And few people need a second chance more than Lochte at this point. It seems to be a match made in marketing heaven between the swimmer and in depth financial information website Debt.com.

Lochte seems to believe in the company's message. As someone who has gone through such a rough year, he is in need of a second chance. It's no wonder that he is backing a company that offers that to so many people in their time of need. He has made several statements to the press that he believes that Debt.com is in the business of helping people and that they truly can give their customers the fresh start that they deserve.

Lochte is set to appear in several ads to promote the company and its website. And, according to the swimmer, a portion of the proceeds from his endorsement deal will go to the charity Parent Project Muscular Dystrophy.

Whether this endorsement will propel Lochte back to his former glory is yet to be seen, but one thing is for sure it is a good start. With help from Debt.com, the swimmer is headed in the right direction and working very hard to undo the damage he inflicted upon himself.

Marketplace

Partners