"Lochte has agreed to season 23 of Dancing With The Stars," a source told RadarOnline.com of the Olympian, 32. "This is all part of a well-orchestrated and carefully planned career redemption tour being organized by some of the best public relations advisors and crisis managers in the business."
"His people know that if the real Ryan Lochte is shown to America — via a medium such as Dancing With The Stars — people will realize that the incident in Rio was an aberration," the insider continued.
Coincidentally, the show's pro dancers are set to meet their "stars" for the first time on Wednesday — and Lochte flew into Los Angeles on Monday, RadarOnline.com has been told.
"Ryan is the first of the big name signings and ABC will announce the move shortly," RadarOnline.com's source dished, adding that the network had also wanted U.S. gymnast, Simone Biles, but "she won't be competing due to other commitments."
Ryan had been in talks with ABC even before the Rio controversy, another source said.
Meanwhile, new information in Ryan's gas station incident may prove him more innocent than previously believed!
According to USA Today, security camera footage from the scene suggests that the Rio police's version of events is just as fishy as Lochte's initial claim. New evidence even opens up the possibility that the swimmer and his teammates were "forced out of their taxi and then robbed of their wallets by thieves pretending to be police."
As for his possible DWTS stint, the reality dance competition starts September and will not confirm its cast until an official announcement during Good Morning America on August 30.
Other rumored cast members include The Bachelorette's JoJo Fletcher and The Fosters' Jake T. Austin. Amber Rose was also named on Tuesday.
Do you think Ryan Lochte will make for a good contestant on DWTS? Let us know in the comments below!