Lochte Gains New Sponsor -- Sponsor Spotlight

(ATR) Disgraced Olympian Ryan Lochte has a new sponsorship deal.

Pine Bros. cough drops is adding Lochte despite the 12-time Olympic medalist facing charges in Brazil of falsifying a police report.

Lochte now admits he "over-exaggerated" his account of being robbed at gunpoint during a night out in Rio de Janeiro during the Games and has apologized.

Once it became clear that Lochte’s version of events wasn’t accurate, he lost all four of his endorsement deals for the Rio Games.

Pine Bros., in announcing the deal to sign Lochte, said in a statement "Just as Pine Bros. is forgiving to your throat, the company asks [the] public for a little forgiveness for an American swimming legend".

For his part, Lochte tweeted "Thanks to all the folks at pine bros. for your confidence in me. I look forward to making you proud."

Tokyo 2020 Paralympics Partner with Panasonic

Panasonic joins the Tokyo 2020 Paralympics sponsors list as a Gold Partner, bringing the total number of Paralympic partners to 44.

Panasonic joined as a Worldwide Paralympic Sponsor in 2014 and has supported the Paralympics since the Nagano 1998 Winter Paralympics.

"Panasonic will continue to support the Paralympic Movement and strive to create an inclusive society for persons with impairments through supporting Para sports, while also offering products and services accessible to everyone, including the elderly and persons with impairments," says president of the Panasonic Corporation Kazuhiro Tsuga.

Tokyo 2020 president Yoshiro Mori says the organizing committee is confident that the company will make a valuable contribution to Games.

"Through its various sponsorship activities, Panasonic has accumulated a wealth of experience and expertise in Games-related matters," he said.

Aggreko to Power 2018 Commonwealth Games

Aggreko is now an official supporter of the Gold Coast 2018 Commonwealth Games and will provide power to 18 venues, the International Broadcast Center, the athlete village and the opening and closing ceremonies.

Gold Coast 2018 chairman Peter Beattie AC says the second tier partnership of Aggreko will contribute to the Commonwealth Games’ sustainable planning.

"The expertise and operational capabilities that the Aggreko team has in the area of temporary power delivery is critical given the absolute reliance on the system across so many GC2018 venues and operations," says Beattie.

Written by Gerard Farek and Kevin Nutley

Forgeneral comments or questions, click here.

20 Years at #1: Your best source of news about theOlympics is AroundTheRings.com, for subscribersonly.