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December 2, 2008 7:16:17 PM CST

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Phelps Gives $1M to Young Swimmers

Posted Sep 2, 08 2:03 PM CDT in US,  Sports 

(Newser) – Michael Phelps says he'll use the $1 million bonus from his sponsor Speedo for tying Mark Spitz's seven gold medals to encourage youth swimmers and water safety. The 23-year-old is starting a foundation "to really help to grow the sport," Phelps told the Today Show. The first initiative will be an eight-city tour to teach children about healthy living beyond swimming and personal responsibility.

Phelps says he’s creating the foundation “because this sport has done so much for me, and for me to be able to welcome other kids and share the experiences that I've had for the past 15 years of my life.”

Sources Today Show, Baltimore Sun

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Swimmer Michael Phelps explains his technique to a swim coach and his class at a YMCA in New York. Phelps set up a foundation to encourage young swimmers.   (AP Photo/Seth Wenig)
Michael Phelps is escorted by Minnie Mouse at the Magic Kingdom in Florida last week.   (AP Photo/Disney, Gene Duncan)
Swimmer Michael Phelps helps a young swimmer at a YMCA pool in New York, Thursday, Aug. 28, 2008.   (AP Photo/Seth Wenig)
Swimmer Michael Phelps high-fives a swimmer at a YMCA pool in New York, Thursday, Aug. 28, 2008.   (AP Photo/Seth Wenig)
Michael Phelps, left, poses with actor Kevin Connolly, during the taping of his cameo on HBO's "Entourage."   (AP Photo/HBO, Claudette Barius)
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