Olympic Gold medalist Michael Phelps is having a really bad week. Thanks to a photo of him smoking marijuana that was published Sunday, he’s been suspended from competition, according to a statement released yesterday that reads: “USA Swimming has reprimanded Michael Phelps under its Code of Conduct by withdrawing financial support and the eligibility to compete for a period of three months effective today, Feb. 5, 2009. This is not a situation where any anti-doping rule was violated, but we decided to send a strong message to Michael because he disappointed so many people, particularly the hundreds of thousands of USA Swimming member kids who look up to him as a role model and a hero. Phelps has voluntarily accepted this reprimand and ‘has committed to earn back our trust.'” Not only that, but cereal manufacturer Kelloggs decided not to renew their contract with the swimmer. They also released a statement yesterday, that read: “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.” Phelps grossed $100 million in endorsement deals after winning eight gold medals at the Beijing Olympics.