The fallout from Michael Phelps' recent pot incident has begun. It has already cost him at least one big sponsor. Olympic champion Michael Phelps was on the box covers of both Kellogg's Corn Flakes and Frosted Flakes boxes but Ad Agereports Kellogg's will let its contract with Phelps expire at the end of this month.
Here's the statement from Kellogg's:
"We originally built the relationship with Michael, as well as the other Olympic athletes, to support our association with the U.S. Olympic team. Michael's most recent behavior is not consistent with the image of Kellogg. His contract expires at the end of February and we have made a decision not to extend his contract."
Ad Age also contacted Subway - which has an ad campaign featuring Phelps that's about to begin - but they declined to comment.
