Not unexpectedly, Kellogg is dropping their sponsorship of Olympic swimmer Michael Phelps following the publication of a photo which depicted him smoking marijuana. Kellogg will allow the swimmer's contract to expire at the end of the month.

A Kellogg spokesperson issued the following statement:

"We originally built the relationship with Michael, as well as the other Olympic athletes, to support our association with the U.S. Olympic team. 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."

In addition, Kellogg also decided not to renew its Olympic Team sponsorship, which expired in December 2008.

Phelps also has a rather lucrative deal with Subway, which has thus far declined to comment on the situation. Subway has a campaign featuring Phelps ready to hit the airwaves, but at this point it seems like a delay is likely.

Instead of dropping Phelps, Subway could instead take a different angle with their TV ad campaign. The theme could be "When I get the munchies, I pick up a Subway sandwich." Imagine the new demographic they'd reach with that one.

On a more serious note, it seems like while some of Phelps' sponsors have accepted his apologies, others are not too pleased with his behavior. Before long, he could see more contracts expire without being renewed or some companies outright ending their deals before they expire due to some kind of morality clause.

Meanwhile, Phelps has been suspended from USA Swimming for 3 months. South Carolina police, where the photo is alleged to have been taken, are also seeking to bring drug charges up against the swimmer.