If you have a box of Kellogg’s Corn Flakes with Michael Phelps’ picture on it, you might want to hold on to it for a while. There’s no telling how much it might be worth now that the cereal company has axed the Olympic swimming champ from its payroll.
Kellogg’s markets its Corn Flakes as the perfect cereal for those who want to maintain fit lifestyles, which is why company execs say they decided not to renew Phelps’ contract. According to Kellogg reps, the swimming sensation’s contract expires at the end of the month, but it won’t be renewed, namely because of the brouhaha generated by a photo that shows the part man/part fish allegedly taking a hit from a marijuana pipe.
“We originally built the relationship with Michael, as well as the other Olympic athletes, to support our association with the U.S. Olympic team,” a company spokeswoman says in a statement. “Michael’s most recent behavior is not consistent with the image of Kellogg so we have made a decision not to extend his contract.”
Phelps got doused with another bucket of reality when he was informed yesterday that he has been suspended from competition and denied financial support for three months by USA Swimming, the sport’s national governing body.
“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,” federation execs said in a statement to the media. “Michael has voluntarily accepted this reprimand and has committed to earn back our trust.”
The 23-year-old, who earned a record-breaking eight gold medals at the 2008 Summer Olympic Games, told his hometown newspaper that he accepts his punishment and will learn from his mistakes.
Incidentally, Phelps’ other sponsors, including Speedo, Omega watch and Visa, have chosen to stick with the swimmer and keep him on as spokesperson for their respective companies.