Omega Supports Michael Phelps Amidst Bong Photo Imbroglio

Despite the recent furor over Olympic swimming sensation Michael Phelps, whose photo with a large marijuana bong at a North Carolina party has created considerable media attention far removed from his athletic accomplishments, Swiss watchmaker Omega will stand by its champion.

"The story is about the private life of Michael Phelps. Omega believes that it poses no problem," stated a succinct release from the Swiss luxury brand, who features Phelps in various advertisements for its Seamaster watch collection.

Speedo, manufacturer of the high-tech suit used by Phelps and other swimmers was somewhat less generous in its appraisal of the situation.  A media release from the company said, "Speedo does not approve of such conduct and we know that Michael regrets his actions."  Speedo will, however, continue to sponsor Phelps.

Phelps, who won a record eight gold medals at the Beijing Olympics, swiftly issued an apology for the photograph, calling his behavior "regrettable" and an incident of "bad judgement".