Phelps avoids hot water with sponsors -- for now

MILWAUKEE - Michael Phelps doesn't seem to be in much hot water with his sponsors despite being photographed inhaling from a marijuana pipe.

From apparel company Speedo to luxury Swiss watchmaker Omega, several sponsors are standing by the 23-year-old swimming phenom - at least for now - and have accepted his public apology. Other big companies, like Visa Inc., Subway and Kellogg Co., aren't talking yet.

Experts say if Phelps doesn't stick to the straight and narrow, he could hurt his chances at future endorsements. And there's no guarantee he won't be dropped quietly once the furor dies down.

Phelps handled the situation well by apologizing and saying he regretted his actions, said John Sweeney, director of sports communication at the University of North Carolina at Chapel Hill's School of Journalism and Mass Communication. Phelps went a step further and promised "it will not happen again."

In 2004, after the Athens Games, a then-underage Phelps was arrested for drunken driving. He pleaded guilty, apologized and again said he wouldn't make the same mistake again.

Sweeney said if Phelps is caught transgressing a third time, he could stand to lose many sponsorships - and the public's trust. For now, the public and his sponsors could look past it. After all, he said, President Barack Obama has acknowledged using marijuana and he still got elected.

"My prediction would be that this will pass," he said with caution. "If it does happen again, it'll be twice the story and it will hurt him.

- Associated Press