The Week: Brand News - Phelps' contract extended

Speedo has extended its sponsorship deal with the swimmer Michael Phelps, seven months after he appeared in a photo with a marijuana pipe in his mouth. The 14-time gold medal winner, who signed with Speedo in 2001, had his contract extended to 2013. As part of the arrangement, the sportswear company will donate £10,000 to the Michael Phelps Foundation for every medal he wins.

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