Phelps endorsement career likely to suffer after cannabis scandal: ExpertFebruary 3rd, 2009 - 1:04 pm ICT by ANI
Washington, Feb 3 (ANI): Olympic golden boy Michael Phelps endorsement career is likely to take a downturn following photos showing him smoking marijuana out of a bong at a party, say market experts.
The pics published in Britain’’s News of the World were taken in November at a University of South Carolina house party.
Robert Tuchman, president of Premiere Corporate Events, a sports entertainment firm said that the scandal is likely to hit eight Olympic gold medallists advertising career.
“It’’s certainly not good and its a disaster in terms of the near future,” Fox News quoted Tuchman as saying.
“He’’s very unlikely to have new sponsors come on board and endorse him. And there’’s the potential for other sponsors to pull the plug on him, using this is an opportunity. He’’s going to take a big hit on this,” he added.
However, the 23-year-old swimmer has already apologised for his inappropriate conduct, citing his age as an excuse for his poor judgment.
“When these brands make an investment in you, they make a serious investment in you and it doesn”t matter what age you are,” Tuchman said.
“He kind of used that as an excuse in his apology, but these companies are paying him a lot of money and they have a right to hope that he continues to be seen in a positive light,” he added.
Two of Phelps” endorsement deals with AT&T and Rosetta Stone ended on December 31, 2008.
AT&T officials refused to comment on any plans to re-sign Phelps; a Rosetta Stone spokeswoman said Phelps is not being considered for future promotions, but that decision was made before the photo surfaced.
“We do not condone his activities and are disappointed in his recent judgment,” a statement issued by Stone read.
However, two of Phelps” leading sponsors indicated they are sticking by him. Swiss watchmaker Omega said Phelps” actions were a private matter and a “nonissue,” while swimwear manufacturer Speedo called him a “valued member of the Speedo team.” (ANI)
- Phelps, Lochte showdown in 200m medley - Aug 02, 2012
- Olympics: Michael Phelps bids farewell - Aug 05, 2012
- Phelps retiring at right time: Soviet gymnast Latynina - Aug 03, 2012
- Olympics: Phelps misses out on gold, but claims record - Aug 01, 2012
- Olympics: Phelps adds another feather - Aug 03, 2012
- Phelps reveals future: Working with kids and swimming with sharks - Aug 06, 2012
- Fans defend Phelps after marijuana scandal - Feb 07, 2009
- Phelps gives up 200m for London Olympics - Jul 03, 2012
- Phelps confirms retirement after London Olympics - Aug 03, 2012
- Lara Bingle fires back after losing Speedo sponsorship - Dec 06, 2010
- Can Olympic champion Phelps continue where he left off? - Jul 22, 2009
- Phelps to swim 400m medley at US trials - Jun 25, 2012
- Phelps wants to have fun at Olympic swansong - Jul 27, 2012
- Swimming Australia plans to lure Phelps for Thorpe showdown - Apr 03, 2011
- Phelps suspended from swimming, loses Kellogg contract - Feb 06, 2009
Tags: apology, downturn, endorsement deals, entertainment firm, fox news, gold medallists, house party, inappropriate conduct, market experts, michael phelps, news of the world, olympic gold, poor judgment, private matter, robert tuchman, rosetta stone, smoking marijuana, swimmer, swiss watchmaker, university of south carolina