"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 is 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."
Phelps agent says that he expects the endorsement contract to last through the next Olympic games in London and hopefully beyond.
Phelps, 24, won a record setting eight Olympics Gold Medals at the Beijing Olympic games in 2008. He has 16 Olympic medals in total.