Why is Ryan Lochte giving away his Olympic medals? Swimmer looks to give back in a big way with donation to charity

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Ryan Lochte is one of the most accomplished swimmers in Olympic history.

The 37-year old has captured 12 Olympics medals over the course of his career, including six gold medals.

On Sunday, Lochte announced he was putting up his other six medals for auction.

"I'm not one to be all sentimental about medals," Lochte told The Associated Press on Sunday

My medals are just sitting in my closet collecting dust. The memories that I have is what means the most.

Medals are the currency by which Olympians are measured by. Yet, Lochte is willing to give his up for little to no gain. Why? The Sporting News has you covered.

Why is Ryan Lochte giving away six of his medals?

Lochte is giving away his medals for a good cause: charity. Lochte plans of donating the proceeds made from selling his bronze and silver medals to the Jorge Nation Foundation, a non-profit organization dedicated to sending children with terminal illnesses and their families on vacations across the world. The foundation is based in South Florida. Lochte swam at the University of Florida and has lived in Gainesville for much of his professional career.

"Everything we earn is going straight to the charity."

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"This year I really wanted to focus on giving back. I'm loving it," Lochte said. "I've been teaming with my dad doing swim clinics and I'm coming out with my own sunscreen."

The combined value of the six medals sits at more than $80,000. According to RR Auction executive vice president Bobby Livingston, Lochte's medals are "in perfect condition" and "have beautiful ribbons."

The medals aren't the only Olympic mementos Lochte has on the market. A 14-karat white gold Olympic ring and Breitling watch with black diamonds are also available for purchase. Lochte bought both items after bagging five medals at the 2012 Olympics.

For all of the controversies surrounding Lochte's career, he has always shown a willingness to spend time with children in need.

"Those medals mean a lot to me; I worked my [rear] off for them," Lochte said, "but helping other people out is more important to me, especially because I have kids of my own."

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David Suggs is a content producer at The Sporting News.