Michael Phelps dropped by Kelloggs. Oh SNAP! Crackle Pop!

Michael Phelps’ Bong-watergate has just cost him the sponsorship of cereal giant Kellogg’s. The company will not renew its contract with the Olympic gold medalist, according to People:

“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 company spokeswoman says in a statement. “Michael’s most recent behavior is not consistent with the image of Kellogg. His contract expires at the end of February and we have made a decision not to extend his contract.”

Damn, looks like Michael Phelps won’t be on a box of Wheaties anytime soon. Except Wheaties is made by General Mills who should seriously be looking to gain from Kellogg’s Quaker mentality. I’m not saying they should start putting purple bong marshmallows in Lucky Charms – unless they want to triple their third quarter profits. To be honest, I don’t really know how that would happen, but isn’t that the way stocks work? You just make shit up then buy a jet. I’ve seriously been in the wrong business.

Photos: Splash News