Now Kelloggs, one of Phelps' most lucrative sponsors, who recently dumped the eight-time Beijing Olympic gold medalist saying, is donating all their cereals with Phelps image on them to the San Francisco Food Bank. And – they are being loud about their distaste for their former spokesman – in a bid to perhaps bring  more publicity to their product.

However, advocates for the legalization of marijuana are speaking out against Kelloggs. The leader of one of the biggest legalize-pot organizations, the Marijuana Policy Project, said, "Kellogg's had no problem signing up Phelps when he had a conviction for drunk driving, an illegal act that could actually have killed someone," said Rob Kampia, the group's executive director. "To drop him for choosing to relax with a substance that's safer than beer is an outrage, and it sends a dangerous message to young people."

Moreover, with real estate in the toilet and the economy floundering, California lawmakers have been toying with the idea of legalizing marijuana and taxing it. So basically they're saying drugs are bad unless the economy tanks.

However, what Phelps failed to realize when he was at a party with strangers who were all taking photos as he held a bong to his lips – is that when you're America's golden boy, you gotta keep it clean. Now Kelloggs, one of Phelps' most lucrative sponsors, announced it was not renewing a contract with the eight-time Beijing Olympic gold medalist saying on Thursday, "We originally built the relationship with Michael, as well as the other Olympic athletes, to support our association with the U.S. Olympic team.”

A rep for the company went on to say that the swimmer’s recent behavior is “not consistent with the image of Kellogg.”

To make matters worse for Phelps, USA Swimming suspended him from competitions for three months.

“This is not a situation where any anti-doping rule was violated, but we decided to send a strong message to Michael because he disappointed so many people, particularly the hundreds of thousands of USA Swimming member kids who look up to him as a role model and a hero,” the federation said in a statement.
“Michael has voluntarily accepted this reprimand and has committed to earn back our trust.”

What do you think? Too harsh or not harsh enough?

"I would not consider Frosted Flakes the food of an Olympian," Rebecca Solomon, a nutritionist at Mount Sinai Medical Center, told the Daily News. "I would rather see him promoting Fiber One. I would rather see him promoting oatmeal. I would even rather see him promoting Cheerios."

According to the Daily Mail, Frosted Flakes cereal has three times the amount of sugar as Wheaties and one-third of the fiber. Gasp!

Apparently experts say, "For a guy like Michael Phelps who isn't worried about obesity because he's burning thousands of calories as an athlete… eating Corn Flakes and Frosted Flakes every so often is not an issue."