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Michael Phelps didn’t have a great day yesterday. Just days after the now infamous and very damaging “bong photo” made its way to the Internets, Michael Phelps learned that he has been suspended from USA Swimming for a 3 month period … as if that wasn’t bad enough news, this suspension came just hours after he learned that Kellogg’s decided to drop him from their endorsement deal … Phelps has been relieved of his spokesperson duties for the brand now that he has been deemed “no longer consistent with image” of the company — ouch!

Michael Phelps’ day grew lousier by the hour on Thursday. First he lost a major sponsor, then he got suspended. The Olympic great was suspended from competition for three months by USA Swimming, the latest fallout from a photo that showed him inhaling from a marijuana pipe. The sport’s national governing body also cut off its financial support to Phelps for the same three-month period, effective immediately. “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 Colorado Springs-based federation said in a statement. “Michael has voluntarily accepted this reprimand and has committed to earn back our trust,” the statement said. Phelps won a record eight gold medals in Beijing and returned to America as one of the world’s most acclaimed athletes. He made headlines of a different kind, however, in the wake of the photo, published Sunday by News of the World, a British tabloid. Earlier Thursday, cereal and snack maker Kellogg Co. announced it wouldn’t renew its sponsorship contract with Phelps, saying his behavior is “not consistent with the image of Kellogg.” The swimmer appeared on the company’s cereal boxes after his Olympic triumph.

“Michael accepts these decisions and understands their point of view,” said one of his agents, Drew Johnson. “He feels bad he let anyone down. He’s also encouraged by the thousands of comments he’s received from his fans and the support from his many sponsors. He intends to work hard to regain everyone’s trust.” Phelps’ coach, Bob Bowman, said he believes Phelps will emerge from the experience a stronger swimmer and person. “Michael’s been through a lot and he’s learned a lot, hopefully,” Bowman told The Associated Press during a telephone interview. “I support him and I want to see him do better. I’m here, as always, to try to help him move forward. He’s learned some tough lessons and he’s disappointed a lot of people, me included.” Phelps has acknowledged “regrettable” behavior and “bad judgment.” He didn’t dispute the authenticity of the photo, reportedly taken at a house party while Phelps was visiting Columbia, S.C., in November during an extended break from training. “I certainly understand USA Swimming needed to take action,” Bowman said. “We will certainly abide by everything they’ve put down.” USA Swimming provides a $1,750 monthly stipend to national team members to help defray travel and training expenses, plus performance bonuses. However, it’s a small percentage of the millions Phelps makes through endorsements. The 23-year-old has resumed training in his hometown of Baltimore, but his plans to return to competitive swimming will have to be put on hold. Phelps had planned to compete in early March at a Grand Prix meet in Austin, Texas. Now, he won’t be able to compete until early May, which would give him a little more than two months for some racing before July’s world championships in Rome. “This is the result of a poor decision Michael made,” U.S. Olympic Committee spokesman Darryl Seibel said in an e-mail. “He understands there is accountability and has pledged to not repeat this in the future. We have offered our assistance to make certain he is as consistent and successful away from the pool as he is in it, and we are confident that will happen.” After the suspension, Phelps would be able to compete at a May meet in Charlotte, N.C.; there’s another Grand Prix competition in Santa Clara, Calif., the following month. The U.S. team for Rome will be chosen at the national championships, which begin July 7 in Indianapolis. “He’s been very good in practice,” Bowman said. “I think he feels good to be back in the water. Certainly, he’s not in very good shape. We’re anxious to get back to a really normal routine and we have,” Bowman said. “We’re moving on.”

Honestly, this 3 month suspension and loss of a major endorsement deal sounds about the right kind of punishment for a mistake like this. Only with real consequences does behavior like this actually have a chance at rectification. Since he acknowledges that what he did is wrong, he seems man enough to pay the penalty. It remains to be seen if he will be forced to lose other endorsement deals but, at this point, the punishment seems fitting to me.

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Sorry Wheaties, Kellogg’s Frosted Flakes and Corn Flakes beat you to the punch … 14-time Olympic Gold Medalist (8-time Gold Medalist at the 2008 Summer Olympic Games alone) Michael Phelps will appear on new boxes of Corn Flakes and Frosted Flakes (this news comes one day after Sports Illustrated revealed the cover of their new issue which features Phelps and his 8 Gold Medals) this Fall … here is our first look his Corn Flakes box and a portion of the Kellogg’s press release:

He’s already taken his place in history alongside the legends, but now Michael Phelps can add one more milestone to the list. After earning eight gold medals in the 2008 Olympic Games, Michael Phelps has earned a place of honor on the front of specially-marked Kellogg’s Frosted Flakes® and Kellogg’s Corn Flakes® cereal boxes. The gold medal winning Olympic champion from Baltimore, Maryland will be featured on Kellogg’s Corn Flakes and Kellogg’s Frosted Flakes cereal packages that are expected to hit grocery store shelves across the U.S. in mid-September. The boxes will feature images of Phelps during what were some of the most memorable moments of this summer’s Olympic Games. “As an Official Sponsor of the 2008 U.S. Olympic Team and a proud sponsor of Phelps, it is only fitting that Kellogg Company feature this world-class athlete on its iconic boxes of Kellogg’s Corn Flakes and Kellogg’s Frosted Flakes cereals,” said Marta Cyhan, Vice President, Global Promotions, Kellogg Company. “Michael embodies the values behind our Frosted Flakes Earn Your Stripes(TM) program. He knows that winning is not just about the glory that comes with gold medals, but about good sportsmanship, working hard and being your best.”

I wouldn’t be surprised if Phelps does also end up on a Wheaties boxes, too (Wheaties very famously puts sports heroes, including many Olympians, on their boxes). Or, mebbe gymnast(s) Nastia Luiken and/or Shawn Johnson will be the ones to score the Wheaties box. In any event, I would think it’d be a great honor to be put on any cereal box … right?

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