UPDATE!

Ryan Lochte's Wild London Night: Olympic Swimmer Parties at Nightclub, Drinks $800 Tequila

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by Rebecca Macatee | Mon., Aug. 6, 2012 8:50 AM

Ringo, PacificCoastNews.com

Ryan Lochte made the USA proud in the water, and now it's time for some fun on dry land!

On Sunday, the 28-year-old Olympic swimmer ventured into London's nightlife scene. Accompanied by his teammates and a few unidentified lady friends, the fashion-forward athlete celebrated until nearly 3:30 a.m. An eyewitness told E! News Lochte was "surrounded by girls" in the VIP area of Chinawhites nightclub, tearing up the dance floor and drinking champagne and $800 tequila. "He was having the time of his life," said the witness.

In one snap, Lochte appeared slightly disoriented as a redheaded woman climbed on his lap in the back of a taxicab.

Ryan talks Lil Wayne tweets, Michael Phelps rivalry and more

Don't worry, though, ladies: Lochte is single! And although Mama Lochte (Ike) had some confusion about the phrase "one-night stands" (she told Today that's all her son has time for) Ry clarified to E! News he's not a total playboy.

"She meant I go on a lot of dates. She didn't mean anything negative. She's new to the whole media thing," he said.

As for his dream girl? "She has to be fit and can make me laugh," he said.

And with that, we're off to practice our punch lines at the gym.

—Additional reporting by Melanie Bromley

(Originally published at 8:50 a.m. PST.)

Look at some of these Olympic hot bods!