But all is not lost for Mr. Phelps. Sandwich juggernaut Subway has announced they're sticking by the swimming star.
"Like most Americans, and likehimself, we were disappointed in his behavior," Subway, which specializes in sandwiches, said in a statement.
"Also like most Americans, we accept his apology. Moving forward, he remains in our plans."
In an article posted on website AdAge.com, the industry journal cited "executives close to the matter" as saying a campaign featuring Phelps and slated for early 2009 would be delayed.
I think I speak for all of us that the campaign can't come soon enough. That "Five-Dollar Footlong" jingle is so played, and yet capable of getting stuck in the viewers head every single time it airs.
Sponsor Subway sticking by Phelps (Yahoo)