Phelps marketing plan isn’t about speed

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Phelps should watch against overexposure, said David Carter, executive director of the Sports Business Institute at the University of Southern California.

"He doesn't need to jump at every opportunity," Carter said. "Otherwise he will find himself diluting his global brand."

Carlisle does limit the number of Phelps' corporate endorsements, which include Visa, Speedo, AT&T, Omega, Kellogg's, Pure Sport, Rosetta Stone and three to five more coming in six months.

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Phelps already has plenty of exposure. After Athens, he landed on a dozen magazine covers and six national TV spots. Octagon created behind-the-scenes videos of swimmers, including one featuring the friendly rivalry between Phelps and Ian Crocker, another U.S. Olympic swimmer.

In 2005, Phelps signed with Matsunichi, a Hong Kong maker of MP3 music players and other consumer electronics, to be its chief spokesman. Phelps has also visited China several times, including a stint with the "Visa Friendship Lanes Tour" to promote the Special Olympics.

"It's that type of thing that bridges the games," Carlisle said.

Carlisle said Phelps wants to go beyond the "superficial, traditional ad campaign" and get involved in activities that promote swimming, inspire children and benefit charity.

To that end, Phelps is donating Speedo's $1 million bonus to a foundation bearing his name to help kids get into swimming. Speedo and its North American licensee, The Warnaco Group Inc., are kicking in another $200,000.