But – with all the sponsorship offers Phelps receives, it does seem that it would make more sense for his own personal brand to sponsor a healthier cereal–this could increase/help conserve the value and integrity of his own brand. The very fact that some people Are upset about his sponsoring of a sugary cereal suggests that his brand could be hurt by this endorsement–whether or not that's fair. (And will the $ he earns from Kellogg's/McDonald's offset the losses in future potential earnings, because of the possible damage to his personal brand? ….impossible to calculate.)

Dr. Tantillo ('the marketing doctor') has a
branding blog and did a recent post on the Michael Phelps brand, discussing the challenges Phelps will have in leveraging his brand for promotions (lack in popularity of swimming as a sport in the U.S., the fact that his brand is closely tied to the Olympics, which is episodic..) and also pointing out ways Phelps will be able to succeed despite these challenges. The promotional ideas he suggests also have a more intuitive tie to Phelps himself.

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