Phelps is admitting "regrettable behavior" and "bad judgment". In a statement released Sunday, he said he acted in a youthful way... And promised it wouldn't happen again.
The picture won't have any impact on the eight gold medals he won in Beijing, and he has never tested positive for banned substances. But he was also busted for drunk driving four years ago, after his first Olympic success. And combined with the picture, it could hurt his ability to earn money from sponsorships.
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