Speedo Renews Michael Phelps Sponsor Deal Through 2013

Speedo has extended its sponsorship deal with Olympic swimmer Michael Phelps until 2013. Phelps has 14 Olympic gold medals. He won eight of them at the Beijing Olympics. Phelps has been with Speedo since 2001. The new deal extends his partnership with Speedo through 2013. Phelps will also continue to serve on the Speedo Aqualab advisory group.

Phelps says in a statement, "Speedo's support both in and out of the pool has helped me grow into the swimmer I am today. I am grateful for the brand's commitment to help realize our shared vision to grow the sport of swimming both in the U.S. and around the world."

Reuters reports that Speedo awarded him a $1 million bonus for breaking Mark Spitz's record of seven gold medals. Terms of his new contract were not disclosed.

Here's a short film about Phelps from Speedo International