Ryan Lochte has made a statement regarding infidelity rumors amid his divorce.

The 12-time Olympic medalist shared that he is not going to comment about speculations that he cheated on his wife, Kayla Reid, whom he shares three children with: Caiden, 7, Liv, 6, and Georgia, 23 months.

“Kayla and I both wish to keep this matter private for many reasons, most importantly, to protect our children,” he told PEOPLE in a statement published on Thursday, June 18. “For that reason, I also won’t be commenting on this matter, or replying to allegations made by third parties.”

Lochte's response follows a statement a source that is close to the couple claims that he cheated on Reid which initiated the divorce.

“He’s damaged so much of their marriage and he’s broken her heart so many times that she doesn’t know if reconciliation is in their future,” the source told the outlet.

“It just got so bad that she actually felt like by leaving he’ll have to be court-mandated to get help, essentially,” the source continued. “All she wants is for him to be healthy and him to be well.”

While the source did not specify the kind of “help” Lochte needs, in 2018 he went into treatment for alcoholism and suffered through an “identity crisis” according to the source relating to his retirement from professional swimming.

Reid was “protecting him for so long and protecting their marriage,” the source added. “She never, ever wanted this.”

The source could also be hinting at the the financial and legal trouble the couple has been allegedly facing due to the swimmer's 2023 car wreck when he ran into a recycling truck that was stopped on the highway. They are also reportedly facing a $167,000 debt for two hospital stays and $100,000 for unpaid taxes.

Ryan Lochte and Kayla Reid Divorce Statements

Earlier this month, Lochte reacted to Reid's Instagram post that announced their split. She wrote, in part, “I hold marriage in the highest regard, so this has been one of the most painful, revealing, and challenging seasons of my life,” she wrote on Instagram at the time. “I've come to understand that staying isn't always the most loving decision someone can make. For me, leaving was an act of love—for those around me and for myself.”

She hinted at going through several “trials” that she did not name in her post and she was “forced to make the hardest decisions to protect our peace, our children, and our future.”

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“This past year has brought major changes for both of us as we've come to the difficult decision to end our marriage,” the 12-time Olympic medalist wrote in a June 4 Instagram post. “I'm deeply grateful for the life we've built together and especially for the love we share for our three children.”

“Although this decision hasn't been easy, I believe it's the right step toward peace and well-being for us both,” Lochte continued. “I remain committed to healing, growth, and co-parenting with care and respect as we move forward separately.”

In Lochte's latest Instagram post, the retired swimmer wished his daughter Liv a happy sixth birthday and previewed how he is looking forward to what's next.

“I may not have all the answers, but I’m the dad who will love you more than words can express,” Lochte wrote. I’ll be your rock, your confidant, and your biggest fan. Through every up and down, I’ll be here for you, loving and supporting you with all my heart. You’ll always be my little girl, and I promise to cherish, support, and love you, no matter what, forever and always. “