Get All Access for $5/mo

Lochte, Sharapova, Woods: When Scandals Attack Athlete Paychecks 12-time Olympic medalist Ryan Lochte is the latest addition to the list.

By Lindsay Friedman

Opinions expressed by Entrepreneur contributors are their own.

MediaPictures.pl | Shutterstock

Sometimes mom does actually know best -- especially when she warns you to be careful with what you say or do. Someone's always watching.

Unfortunately, the athletes in this list didn't heed that advice, losing millions in lost endorsement deals as a result.

Related: Maria Sharapova and 6 Athletes Who Lost Their Nike Endorsements

1. Tiger Woods

After an infidelity scandal in 2009, in which his wife tried to beat him with a golf club, Woods' myriad of endorsement deals with companies including Gillette, AT&T and Gatorade quickly faded away.

2. Kobe Bryant

Because of sexaul assault charges filed back in 2003, both McDonald's and Nutella cut ties with the basketball player.

3. Barry Bonds

The home-run king lost an estimated $28 million thanks to a steroid scandal, prompting multiple companies -- from KFC to Mastercard -- to drop endorsement deals with the superstar athlete.

4. Mike Tyson

The heavyweight champ made more than a pretty penny endorsing PepsiCo products. But that didn't last long after his wife at the time, Robin Givens, came forward with claims of abuse.

5. Michael Phelps

After winning the Olympics, the swimmer decided it was time to celebrate. However, when photos of Phelps smoking marijuana surfaced in 2009, Kellogg decided it was time to go their separate ways.

6. Ben Roethlisberger

The Super Bowl champ and quarterback found himself in the middle of a sexual assault scandal in 2010 after a woman from a night club accused him of rape. The allegations were enough reasons for Big Ben Beef Jerky to drop the QB's endorsement deal with the company.

7. Maria Sharapova

The tennis player announced Monday she didn't pass the drug test for the Australian Open in January. She's one of the highest paid female athletes, earning $29.5 million in 2015 from on and off the court ventures. But her worth is sure to drop this year after major companies, including Nike, have cut ties with the athlete.

Quinn Rooney | Getty Images

8. Ryan Lochte

Partying, vandalizing and lying? That doesn't sound like the routine of a 12-time Olympic medalist. After lying about being robbed at gunpoint by Brazilian police after a night out during the 2016 Rio Olympics, Lochte lost four major sponsorships.

Speedo, Ralph Lauren, skin care firm Syneron-Candela and Japanese mattress maker Airweave dropped the Olympic athlete after he admitted to creating the tall tale involving the host country's cops.

"We cannot condone behaviour that is counter to the values this brand has long stood for," Speedo says of its decision to ditch the swimmer, reported BBC.

Lindsay Friedman

Staff writer. Frequently covers franchise news and food trends.

Lindsay Friedman is a staff writer at Entrepreneur.com.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Starting a Business

How to Connect With Buyers and Get Your Products on Store Shelves, According to the Founder of Daring and Cadence

Ross MacKay, founder and original CEO of the plant-based food company Daring Foods and co-founder of performance beverage brand Cadence, shares the strategies that have landed his products in over 40,000 stores nationwide.

Devices

Maintain Professional Boundaries with a Second Phone Number for $25

Keep your business and personal communications separate with Hushed—and save an extra $5 for a limited time.

Growing a Business

Being a Good Manager Isn't Enough — Here Are 5 Leadership Skills That Will Keep Your Employees Around

The article outlines five key leadership skills — engagement culture, effective staffing strategies, AI utilization, shared team reality, and work-life balance — that can improve team performance and reduce turnover, fostering sustainable growth and innovation.

Starting a Business

How to Find the Right Programmers: A Brief Guideline for Startup Founders

For startup founders under a plethora of challenges like timing, investors and changing market demand, it is extremely hard to hire programmers who can deliver.

Starting a Business

'Wait, I Have to Pay to Donate to You?' How Nonprofits Are Flipping the Script With 'For Profit' Strategies to 10X Their Impact

Spiraling donations and outdated dogmas around fundraising and operating costs have left many charities struggling to stay afloat. Some are trying new strategies to make money.