Michael Phelps used Steroids?

Michael Phelps used Steroids?

This maybe a cynical view but money is indeed a great motivating factor nowadays. It has been reported that one of the reasons why athletes risk their career and health and use steroids to win is money. And an athlete, who’s an icon in his/her sport, can receive sponsorships that amount to millions of dollars.

Take a look at Michael Phelps. Phelps is a now a hot and global commodity and we heard he is receiving a whopping $1 million dollars from Speedo as a bonus for a job well done in the recently concluded 2008 Olympics. Phelps, along with several Olympic swimmers, wore Speedo’s LZR Racer in Beijing. The LZR Racer swimwear has been dubbed as the “most hydro-dynamically advanced swimsuit to date.”

“When I hit the water, I feel like a rocket”, said Phelps of the LZR Racer in February when the suit was officially introduced. “I can’ wait to race in it, this is going to take the sport of swimming to a new level.” And when he did race in it, he delivered jaw-dropping (jaw-dripping, to some) performances.

Reports also say that aside from that huge bonus “The Barracuda from Baltimore” receives around $5 million dollars a year for various endorsement projects. Of course, we’re not saying that Phelps had used steroids to win eight gold medals in Beijing Olympics. Our point here is an athlete, who wants to be at Phelps’ shoes (or flippers) right now, can be tempted to use performance-enhancing drugs for monetary incentives.

Well, here’s the (very good) business side of sports from SBN.com:

All that glitters is gold when it comes to Michel Phelps and while he may not be buying a stairway to heaven, Michael Phelps future includes millions of dollars in endorsements. Today in part V of Sports Business News week long Michael Phelps series SBN will focus at Phelps relationship with Speedo as part of the look at the marketing machine that is Michael Phelps and take a look at the world wide interest in Michael Phelps.

Phelps relationship with Speedo began before the 2004 Athens Games. As will be the case later today when Phelps date with destiny arrives at the 2008 Beijing Games, Speedo offered Phelps a $1 million bonus if he won eight gold medals at the 2004 Games. Again he’ll collect that overdue $1 million bonus later tonight.

As you we all know, Phelps won his gold No. 8 in medley relay.

And there’s more.

Crain’s New York Business Friday reported that New York literary agent Scott Waxman invited publishers last week to bid on a memoir by the 23-year-old world record breaking swimmer, who has become a global sensation in Beijing.

The agent set a $1 million floor for the bidding, and wanted offers right away, which suggested to some publishers that he already had an offer.

And more.

Phelps along with James Bond and a handful of other ‘personalities’ has the designation of being an Omega Ambassador (there are a total of 13 and the list also includes retired Olympic gold medal swimmer Australian Ian Thorpe) Phelps relationship with Omega (one of the IOC’s 12 TOP sponsors) dates back to the 2004 Athens Games.