Phelps Gives $1M to Young Swimmers
Foundation will promote water safety, healthy living
By Ambreen Ali,  Newser User
Posted Sep 2, 2008 2:03 PM CDT
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)
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(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.”