Drugs claim could spell disaster for Michael Phelps
...But the fallout could be huge according to marketing experts, who believe that there could be a mass bail-out by the sponsors who had clamoured to sign up Phelps after Beijing.
“If this is all true, it will be nothing short of a disaster,” John Taylor, chairman of Sports Impact, one of Britain's leading sponsorship agencies, said. “Every sponsor has something called a disrepute clause written into their contracts and I will bet a few of them will be running through the small print first thing on Monday morning. This is terrible for his image.”
Phelps earns up to £5 million a year from deals with ten leading companies, including Hilton Hotels, Omega watches, Kellogg's cereals and Speedo swimwear. Speedo paid Phelps a $1 million bonus for capturing his eight golds in Beijing. His appeal has spread around the globe since he turned the Olympics into a personal triumph. Only last month, he became the face of Mazda cars in China.
He has been here before: in 2004, shortly after winning six gold and two bronze medals at the Athens Olympics, he was sentenced to 18 months' probation for drink-driving."