One sponsor's trash can be another's treasure.
U.S. swimmer Ryan Lochte lost all four of his commercial endorsers following a deceitful jaunt at the Rio Olympics. Thursday, the 12-time medalist recouped some of his losses in signing with a cough drop company.
"The company asks [the] public for a little forgiveness for an American swimming legend," Pine Bros. said in an announcement.
Lochte, 32, became the figure of much scrutiny after he lied about getting kidnapped in Rio during the Summer Olympics. He later admitted he "over exaggerated" the story.
Speedo, Polo Ralph Lauren, mattress manufacturer Airweave and Gentle Hair Removal — Lochte's previous endorsements — all dropped him following the incident. Pine Bros. CEO Rider McDowell decided to back the swimming star.
"We all make mistakes, but they're rarely given front-page scrutiny. He's a great guy who has done incredible work with charities," McDowell said, via CNN.com. "I'm confident that Pine Bros. fans will support our decision to give Ryan a second chance."
Lochte tweeted his thanks.
Thanks to all the folks at pine bros. for your confidence in me. I look forward to making you proud.
— Ryan Lochte (@RyanLochte) August 25, 2016
Pine Bros., a privately held company, is based in California and produces lozenges based on a formula developed after the Civil War.