It looks like Michael Phelps could stand to make some serious money soon.

FOXNews.com - After Beijing, Michael Phelps to Chase Gold on Land - 2008 Summer Olympics

The article says he is currently talking with Speedo, but then goes on to say that if a company like Nike wanted to launch a swimwear line now would be the perfect time to give Phelps $40 or $50 million and do just that.

Other deals such as movie, book, even dog food ads are in the works. You can be sure he'll be on Wheaties boxes worldwide as well.

More power to him. He is about to make some serious money that's for sure.

Considering how much athletes in other sports get paid, I'd say Phelps deserves it.

That's funny you post this article because yesterday me and my friends were talking about Phelps and I mentioned that this guy is going to make some serious money now from sponsors after winning thos eight gold medals.

Also you mentioned Nike, I believe it would be a great investment from them if they did start a swimming line just for him. I'm sure they'd make tons of cash off of him.

Good for him, because Olympic atheletes don't get paid much.

You're also forgetting that each one of them get paid when they medal too so he's got 8 medals. When I was watching some portion of swimming someone from China would have gotten something like $220,000 for gold so I'm not sure if that is across the board or not.

Oh they do?

Phelps is the perfect publicity model, especially after his Olympic performance/wins. Goodluck for the companies who are probably fighting right now to make the best offer.

With all that money everyone here knows exactly what house he's gonna live in when he moves back to Baltimore.

I would spray paint my current house gold.

Good for him, his hard work and training is finally paying off. Plus, now he has 8 gold medals. =)

Ya but what does he do now? Train for another 4 years or actually get a job which he has never had before?

he doesnt need more medals.. just become a professional swimmer.

He said he's going to be in London in 2012 but wont be competing in as many races.

Hopefully these deals he's getting and this money he's making will push young people to move to swimming and help get swimming more popular so we have more great stories like Phelps.