Friday, February 6, 2009

BREAKING NEWS - Michael Phelps Suspended And Loses Some Endorsement Deals

This was one costly bong hit... From

"After Michael Phelps was depicted in a published photo allegedly inhaling from a marijuana bong, the Olympic great has lost swimming competition privileges and a major endorsement deal.

The Associated Press reports that USA Swimming has suspended Phelps for three months of competition and cut off his financial support during that period.

"This is not a situation where any anti-doping rule was violated, but we decided to send a strong message to Michael because he disappointed so many people, particularly the hundreds of thousands of USA Swimming member kids who look up to him as a role model and a hero," the federation said in a statement, according to the AP. "Michael has voluntarily accepted this reprimand and has committed to earn back our trust."

The 23-year-old also lost an endorsement deal with cereal and snack maker Kellogg Thursday, the Associated Press reports.

Phelps, who won eight gold medals in the Beijing Olympics, recently apologized for his "regrettable" actions and "bad judgment."

According to the AP, Phelps has held onto his major sponsors -- Visa Inc., Speedo, as well as others."


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