Butter-Face-Bong-Boy With New Endorsement

The fallout from Michael Phelps' infamous bong photo published last winter in a British tabloid appears to be clearing. Phelps is set to announce his first endorsement since the furor over the photo began. It could be the beginning of a comeback for him on Madison Avenue.

Remember how the 14-time Olympic champion listened to music in warm-ups before winning eight gold medals at the Beijing Olympic Games? Well, Phelps and H20 Audio are set to announce a multiyear partnership Tuesday for the company's line of waterproof sports headphones and accessories.

H20 will feature Phelps in a summer ad campaign, says founder and chief executive Kristian Rauhala.

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