Under Armour leads Olympic marketing shake-up after 'rule 40' changes


Michael Phelps competes during the men's 200m butterfly preliminary heats in the U.S. Olympic swimming team trials at CenturyLink Center in Omaha, Nebraska, U.S. June 28, 2016. Mandatory Credit: Rob Schumacher-USA TODAY Sports/File photo

(Reuters) - Against a backdrop of the iconic five rings, legendary swimmer Michael Phelps sat on a United States Olympic Committee stage at a March media event in Los Angeles, telling reporters why he had arrived fashionably late.

He had been rushed by private jet from Baltimore, courtesy of his sponsor Under Armour, which had held its own media event the same day (a coincidence, the company said). Phelps called Under Armour-backed athletes a "family" and its chief executive Kevin Plank a visionary with "mind-blowing ideas."

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