Michael Phelps Suspended for Three Months, Loses Kellogg Gig

Michael Phelps has been suspended from swimming and dropped from Kellogg's cereal boxes following his controversial pot pics.

U.S. swimming officials announced Thursday they were barring Phelps from competing for three months and withdrawing financial support from him for a period of "reprimand," CNN reports.

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"This is not a situation where any anti-doping rule was violated, but we decided to send a strong message to Michael because he disappointed so many people, particularly the hundreds of thousands of USA Swimming-member kids who look up to him as a role model and a hero," USA Swimming announced in a statement.

"Michael has voluntarily accepted this reprimand and has committed to earn back our trust," the statement continued.

Meanwhile, Kellogg Co. announced that the Olympian's behavior is "not consistent with the image of Kellogg," and that it would not renew his contract, which expires at the end of February.

The swimmer appeared on Frosted Flakes and Corn Flakes cereal boxes after winning a record eight gold medals over the summer at the Beijing games.

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A rep for Phelps, 23, did not comment.

Most of the swimmer's sponsors have said they're sticking by Phelps, including Visa, Speedo, luxury Swiss watchmaker Omega and athletic drink PureSports.

On Wednesday, Phelps told the Baltimore Sun that it "definitely wasn't easy" explaining those pot pics to his mom, Debbie -- especially after he'd already gotten in hot water with her when he was arrested in 2004 for DUI at age 19.

He added: "This was stupid, and I know this won't happen again."