Michael Phelps doesn't seem to be in much hot water with his sponsors after being photographed inhaling from a marijuana pipe.

From apparel company Speedo to luxury Swiss watchmaker Omega, several sponsors are standing by the 23-year-old swimming phenom --at least for now.

Other big companies, like Visa, Subway, and Battle Creek-based Kellogg aren't talking yet.

Experts say if Phelps doesn't stick to the straight and narrow, he could hurt his chances at future endorsements.

Phelps has trained in Ann Arbor, Mich.