Why has Michael Phelps been allowed to accept money from sponsors while he has been swimming in college?

Question

I know college football or basketball players can't accept money from sponsors while they are in school, so what makes Phelps exempt from that rule? I read somewhere that he made over 5 million dollars in money from sponsorships this past year.

Answer 1

I believe (and correct me if I'm wrong) that there's no such thing as a professional swimmer, which potentially could be a reason, as opposed to football and basketball.

Answer 2

NCAA rules prohibit money from outside sources like sponsors.  This applies to all sports.  Accepting sponsor money while an NCAA student-athlete would constitute accepting "extra benefits," and make him ineligible.

Answer 3

Because the whole "amateur" status issue for Olympians has become a farce!

It may have had merit once but now it is just a joke. Time for it to end I think... It can only improve the performances of athletes anyway.

Answer 4

How else is the man going to live? He eats 12000 calories a day. Is his college scholarship paying for that?

Answer 5

He trains at the University of Michigan under UM's swim coach but never was a scholarship athlete on the swim team there, so there hasn't been an issue in terms of his eligibility. Since the Olympics are no longer an "amateur" competition he is allowed to earn money through endorsements and the like.

Answer 6

They want him to endorse their products.

Answer 7

Different rules for different sports.

Basketball and football pose the most risk with sponsors because they have a professional league, and colleges are currently trying to keep those players in college for 3/4 years instead of having them go to college for 1 year and then leave for the pros, or do a Lebron James and skip college altogether.

Swimming doesn't have a professional league.  So Michael Phelps can rake in all the money he wants and never have to work a day in his life if he doesn't want to.