Brands are playing a 'deadly game of Russian roulette' with celebrities that's costing them millions

Matt Hazlett/Getty Images It only took one brand to drop Ryan Lochte before the rest of his sponsors followed suit. First Speedo dumped the decorated Olympic swimmer, then Ralph Lauren. The rest cut ties soon after. The episode was a cautionary tale for brands that spend millions endorsing celebrities and athletes. "Celebrity brand endorsements are risky business," Jeetendr Sehdev, professor of marketing at the University of Southern California, wrote in an email to Business Insider. "As the cos...