Subway is preparing to drop Michael Phelp from his recently announced sponsorship deal. We hear the cold cuts chain is great strides to separate themselves from the champion Olympic swimmer in the wake of last weekend’s marijuana scandal.

Before the photo of Michael Phelps smoking the ganja from bong hit headlines, the swimmer was featured on the Subway web site. However, since the marijuana scandal broke, Subway has removed all of the star’s images from its website and are working a deal to sever ties with the gold medalist.

According to BuzzNewsroom, Subway execs are pissed off, talking to legal, want their endorsement money returned — and to “get rid of this embarrassment.”

On Thursday, Battle Creek, MI. manufacturer Kellogg announced that they would not renew their partnership with Phelps when his endorsement deal with the cereal and snack food manfacturer expires at the end of the month.
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