Phelps responds to marijuana photo

Olympic swimming champion Michael Phelps is speaking out for the first time since a British tabloid published a picture of him with a marijuana pipe

Olympic swimming champion Michael Phelps is speaking out for the first time since a British tabloid published a picture of him with a marijuana pipe, at a November house party in South Carolina.

SOUNDBITE: Michael Phelps saying (English):

"I've clearly made some bad judgments and mistakes in my life and I think the best thing is learn from your mistakes and its what I've done and what I continue to do and you know I'm going to do everything I can in the pool and I'm already back in the pool training and still deciding on a lot of things. I'm happy to be back inthe water. I feel at home and feel comfortable."

The incident has already affected Phelps' future earnings potential as Kellogg's cereal announced it would not renew its sponsorship with the swimmer.

The Michigan-based company said that Phelps's behavior was "not consistent with the image of Kelloggs."

Jon Decker, Reuters.