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Phelps in Hot Water

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According to Rule 40 in International Olympics Committee handbook, athlete cannot promote non-official sponsors for about a month before and after the games. Micheael Phelps did just this. In a tub, with his Louis Vuitton bag. In a speedo. And a supposed fart bubble. This could risk the loss of all bajillion of his medals. The contracted Annie Leibovitz shot garnered much attention, and according to Michael's agent, the image was unauthorized, therefore Michael did not break the rules, LV did. [Racked]