Phelps Image as Hero Hurt by Photos†

Wall Street Journal, February 3, 2009 — During the Beijing Olympics, Michael Phelps's sports agent said the gold medalist could earn $100 million in endorsement deals over his lifetime. Now, with Mr. Phelps photographed smoking marijuana, that figure may have to be adjusted, though for the time being most brands say they are standing by the swimming champion. Mr. Phelps was caught up in a torrent of bad publicity Sunday when photos of him appeared in a British tabloid. Although he apologized immediately for the incident, sports-marketing experts expect some fallout.