Why did Michael Phelps lose his endorsement?

Why did Michael Phelps lose his endorsement?

Kellogg Co. K 0.74%▲ is severing its relationship with Michael Phelps after the Olympian was photographed smoking marijuana. In addition, USA Swimming, the sport’s governing body, took the unusual step of suspending Mr.

How much did Kelloggs pay Michael Phelps?

Cereal deals are usually not worth more than $250,000, but it is believed that Phelps’ deal tops that number. As part of the deal, Kellogg’s also pledged $250,000 to the Michael Phelps Foundation. The Kellogg’s deal is believed to be the first of Phelps’ deals that expires.

What sponsors dropped Phelps?

Thursday was a rough day for the eight-time gold medal-winning Olympian Michael Phelps, who was suspended from competition for three months and lost Kellogg’s as a sponsor.

Who sponsors Michael Phelps?

He’s taken the top prize of the Games 23 times and medaled 28 times overall. Over the course of his career, Phelps made quite a splash with his endorsements. Phelps’ post-Olympic sponsors include Speedo, Subway, Visa, PowerBar, AT and Under Armour.

How much does Michael Phelps make in endorsements?

Michael Phelps- Summary

Name Michael Fred Phelps
Annual Income $9,300,000
Nicknames The Baltimore Bullet, Flying Fish
Endorsements Omega Watches Aqua Sphere Master Spas Krave Speedo Under Armour
Merchandise XCEED Swimming Goggles, Swim Caps

Did Michael Phelps lose his sponsorship?

Olympian Michael Phelps Loses Sponsor Kellogg’s, Gains Rollie’s Smoke Shop. Thursday was a rough day for the eight-time gold medal-winning Olympian Michael Phelps, who was suspended from competition for three months and lost Kellogg’s as a sponsor.

Did Michael Phelps take Ritalin?

When Michael was in the sixth grade, he was fidgety and had trouble paying attention in the classroom. His pediatrician diagnosed him with ADHD and prescribed Ritalin. Michael took the medication for several years, and it seemed to help.