Are Celebrity Endorsers Really Worth the Trouble?†

Brandweek, February 9, 2009 — Late last week, Kellogg announced it was dropping Olympian Michael Phelps. His team suspended him and law enforcement officials were considering pressing charges. This all transpired after a photo of the swimmer, indulging in a bong hit, surfaced in the U.K.'s News of the World.

Phelps, once one of the most highly sought after spokespeople in the world, was believed to have an earning potential of up to $100 million. Now all of that, much like Cheech and Chong, is up in smoke.

Some of the companies that have already inked contracts with Phelps, like Omega watches and Speedo swimwear, rallied around the record-setting gold medalist. However, following the statement that "Michael's most recent behavior is not consistent with the image of Kellogg," it remains to be seen what Subway, AT&T and others will do.