Phelps’ incident hasn’t cost him sponsors, yet

Getting his picture taken inhaling a marijuna pipe wasn’t in his best interest.

MILWAUKEE (AP) — Michael Phelps doesn’t seem to be in much hot water with his sponsors following his public apology despite being photographed inhaling from a marijuana pipe.

From apparel company Speedo to luxury Swiss watchmaker Omega, several sponsors are standing by the 23-year-old swimming phenom — at least for now. Other big companies, like Visa Inc., Subway, and Kellogg Co., aren’t talking yet.

Experts say if Phelps doesn’t stick to the straight and narrow, he could hurt his chances at future endorsements. And there’s no guarantee he won’t be dropped quietly once the furor dies down.

Phelps, who won a record eight gold medals at this summer’s Olympics in Beijing, acknowledged “regrettable” behavior and “bad judgment” after the photo appeared Sunday in the British tabloid News of the World.

The paper said the picture was taken during a November house party while Phelps was visiting the University of South Carolina.

Phelps handled the situation well by apologizing and saying he regretted his actions, said John Sweeney, director of sports communication at the University of North Carolina at Chapel Hill’s School of Journalism and Mass Communication. Phelps went a step further and promised “it will not happen again.”

In 2004, after the Athens Games, a then-underage Phelps was arrested for drunken driving. He pleaded guilty, apologized and again said he wouldn’t make the same mistake again.

Sweeney said if Phelps is caught transgressing a third time, he could stand to lose many sponsorships — and the public’s trust. For now, the public and his sponsors could look past it.

After all, he said, President Barack Obama has acknowledged using marijuana and he still got elected.

“My prediction would be that this will pass,” he said with caution. “If it does happen again, it’ll be twice the story and it will hurt him.”

Swiss watchmaker Omega said Phelps’ actions were a private matter and “nonissue” while Speedo called Phelps a “valued member of the Speedo team.”

Sports performance beverage PureSport’s maker, which tapped Phelps to be spokesman for its first national advertising campaign, also said Monday that it stands by him but it said it does not condone his behavior.

“We applaud the fact that he has taken full and immediate responsibility for his mistake and apologized to us, his fans and the public and we support him during this difficult time,” said Michael Humphrey, chief executive of Human Performance Labs.

Hilton Hotels Corp., whose relationship with Phelps dates to 2007, likewise stuck with him.

“We continue to support Michael Phelps as an athlete whose numerous athletic feats outshine an act of regrettable behavior,” the statement said.