New sponsor coughs up cash for Lochte as others bail out

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Ryan Lochte has landed himself a new endorsement deal - with a cough sweet manufacturer.

While heavyweights such as Speedo and Ralph Lauren have called time on their Lochte contracts since the US swimmer made false claims about being robbed at gunpoint at Rio 2016, California confectioner Pine Bros. has moved to sign him up.

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

Pine Bros CEO Rider McDowell added: "We all make mistakes, but they're rarely given front-page scrutiny.

"He's a great guy who has done incredible work with charities. I'm confident that Pine Bros. fans will support our decision to give Ryan a second chance."

Lochte tweeted his thanks later on Thursday, posting: "Thanks to all the folks at Pine Bros. for your confidence in me. I look forward to making you proud."

The 32-year-old is reportedly set to star in TV commercials with the tagline: "Pine Brothers softish throat drops: forgiving on your throat."