New York, Feb 6 : Ace swimmer Michael Phelps has been barred from competition for three months after he was snapped smoking a bong at a party.

The pics published in Britain''s News of the World, showing the eight times Olympic gold medallist using a bong, were taken in November at a University of South Carolina house party.

The 23-year-old star had also apologised for his `inappropriate conduct'.

USA Swimming has also temporarily withdrawing its financial support to him.

Washington  - American swimmer Michael Phelps, the winner of the most Olympic medals in history, was suspended Thursday from competing for three months and lost his lucrative contract with the Kellogg cereal company, newspaper reports said.

The moves were the latest fallout from a photograph published in an English tabloid over the weekend showing the 23-year-old smoking a long glass pipe, or bong, associated with the consumption of marijuana.

The photo was taken at a party at a university in South Carolina.

Baltimore, Feb 5 : Michael Phelps has confessed that he's embarrassed by the marijuana incident, and is weighing whether to take part in 2012 Olympics.

The pics published in Britain''s News of the World, showing the eight times Olympic gold medallist using a bong, were taken in November at a University of South Carolina house party.

The 23-year-old star admits that he "clearly made a mistake," and the past week has been both embarrassing and uncomfortable for him.

New York, Feb 4 : Olympic golden boy Michael Phelps is likely to face criminal charges after being photographed with a marijuana pipe.

The pics published in Britain''s News of the World, showing the eight times Olympic gold medallist using a bong, were taken in November at a University of South Carolina house party.

The sheriff''s department in the South Carolina town may file charges against the 23-year-old swimmer.

Washington, Feb 3: Swimming legend Mark Spitz has expressed his distress over Michael Phelps' cannabis scandal.

The former Olympian whose gold medal world record was smashed by Phelps said that he feels bad for the 23-year-old star.

"As strictly a fan, I feel badly for Michael and the situation he has put himself in," Usmagazine. com quoted Spitz as saying.

"I think no one would wish this on anyone, especially the person that gave us a summer like no other in 2008.

Washington, Feb 3 : Olympic golden boy Michael Phelps' endorsement career is likely to take a downturn following photos showing him smoking marijuana out of a bong at a party, say market experts.

The pics published in Britain''s News of the World were taken in November at a University of South Carolina house party.

Robert Tuchman, president of Premiere Corporate Events, a sports entertainment firm said that the scandal is likely to hit eight Olympic gold medallist's advertising career.