Michael Phelps wears Under Armour

“Neither rape allegations, marijuana pipes, pleading no contest to double murder, or vehicular homicide shall keep athletes from signing their endorsement deals.”

- Athlete Credo

Add Michael Phelps to the growing list of athletes who can not only overcome a PR nightmare, but can still turn a profit after its all said and done.  Phelps recently signed a multi-year endorsement deal with the apparel company Under Armour, to wear their apparel outside the pool (he has a contract with Speedo when he’s in the water).

The deal is expected to continue at least through the 2012 Summer Olympic games and has an estimated value of around $5 million.

The arrangement with Under Armour is Phelps’ highest-profile deal since a picture of him with a marijuana pipe surfaced in a British tabloid in January 2009.

Phelps, who will be making appearances in Vancouver on Thursday, says he already worked out in Under Armour gear. In addition, he lives near the company’s offices in Baltimore, his hometown. “It seemed like the perfect fit,” he says.

His first national TV commercial for Under Armour will co-star UFC welterweight champion Georges St-Pierre, Milwaukee Bucks rookie Brandon Jennings and former Oklahoma State wide receiver Dez Bryant. It will premiere during coverage of the NFL scouting combine. (via USA Today)

Kudos to Michael Phelps.  If he can sign a lucrative endorsement deal in spite of his previous issues, I’m all for it.  America is the land of the second chance.  We’ve seen it with Kobe, we’ve seen it with Ray Lewis, Charles Barkley…any and everyone.  Although I’d argue that he was already on it, Michael Phelps can now officially be added to the list of athletes who have moved on after a scandal.

…I heard a rumor that some golfer guy is doing a press release on Friday.  Wonder how long before we see him on this list as well?