Ending Soon! Save 33% on All Access

Evgeny Rylov, the Russian Olympic champion loses his sponsor for supporting Vladimir Putin After confirming that the swimmer attended an event wearing the letter "Z" on his uniform, Speedo announced that it will no longer sponsor him.

This article was translated from our Spanish edition.

Jean Catuffe | Getty Images

The name Evgeny Rylov is synonymous with strength, endurance and high performance. The Russian swimmer became a legend by winning two gold medals (100 and 200 meter backstroke) and one silver medal (4x200 freestyle relay) at the 2020 Tokyo Olympics. His name is now making headlines again for a different reason : Speedo , the manufacturer of swimming articles, withdrew its sponsorship after learning that the athlete had participated in an event in favor of Russian President Vladimir Putin.

Rylov attended a massive event at the Luzhniki Stadium in Moscow to commemorate the eighth anniversary of the annexation of the Crimean peninsula to Russia and in which Putin gave a speech justifying the attack that began 27 days ago against Ukraine. The guests of honor at the event took the stage displaying the letter Z which has become the sign used by the Russian people to communicate their support for the invasion. Among the guests of honor at the event was Rylov.

After confirming that the swimmer was at the event, Speedo issued a statement informing about its decision to withdraw sponsorship: "Speedo confirms that it has terminated its sponsorship of Evgeny Rylov with immediate effect. We condemn the war in Ukraine in the strongest possible way and "We stand in solidarity with the people of Ukraine as we have athletes who have been affected by the conflict. All outstanding sponsorship fees will be donated to UNHCR (the office of the United Nations High Commissioner for Refugees)."

The athlete, who is also a sergeant of the Moscow Oblast Police, appeared at the event accompanied by other figures: Alexander Bolshunov (cross-country skier), sisters Arina and Dina Averina (gymnasts), Evgenia Tarasova (figure skater), Nikita Katsalapov (figure skater), Victoria Sinitsina (figure skater), Viktoriia Listunova (gymnast) and Vladimir Morozov (swimmer).

Evgeny Rylov was named Sportsman of the Year in Russia 2018.

Entrepreneur Staff

Entrepreneur Staff

Editor

For more than 30 years, Entrepreneur has set the course for success for millions of entrepreneurs and small business owners. We'll teach you the secrets of the winners and give you exactly what you need to lay the groundwork for success.

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

Business News

TikTok Reportedly Laid Off a 'Large Percentage' of Employees as the App's Fate in the U.S. Remains Unclear

Laid-off TikTok employees were notified Wednesday night through Thursday morning.

Personal Finance

This Investment Bundle Includes a Trading Course and Stock Screener Tool for $150

Approach the stock market with an increased understanding.

Business News

Four Seasons Orlando Responds to Viral TikTok: 'There's Something Here For All Ages'

The video has amassed over 45.4 million views on TikTok.

Growing a Business

5 Strategies to Know As You Scale Your Business

Scaling a service-based company requires a comprehensive approach that goes beyond simply increasing revenue. It requires careful planning, strategic decision-making and a deep understanding of market dynamics.

Growing a Business

The Right Way to Ask Someone for a Million Dollars, According to a Fundraiser Who Does It For a Living

No matter what you're raising money for, Wanda Urbanskia says, the same basic rules apply.