Phelps' bonus to start swim foundation (AP)

[ASFN Admin]

Michael Phelps will put his $1 million bonus to good use, announcing plans to start a foundation promoting water safety and youth swimming. Joe Gromek, president and CEO of Warnaco, Speedo's U.S. parent company, presented a check to Phelps on NBC's "Today" show Tuesday. The company, which has sponsored Phelps since he was 16, promised him a $1 million bonus if he tied or broke Mark Spitz's record...

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