Report: 4 organizations collaborating on Lochte punishment

The International Olympic Committee is working with FINA, the USOC, and USA Swimming in an effort to determine a suitable punishment for Ryan Lochte and the three other swimmers entangled in the infamous incident at a Rio gas station, according to USA Today's Christine Brennan.

A meeting between the federations has already been held in Rio, according to Brennan.

The IOC is apparently trying to include a community service component to Lochte's punishment.

Lochte lost all four of his sponsorship deals in a string of announcements made Monday, which ESPN's Darren Rovell estimated at $1 million in losses.