Michael Phelps might be in big trouble with the Olympics

Aug 17, 2012 at 5:12 p.m. ET

The International Olympic Committee wants to have a serious chat with Michael Phelps over a leaked photo from his Louis Vuitton ad campaign.

Michael Phelps might be in trouble for Louis Vuitton ads

You know how Michael Phelps is the most decorated Olympian in history? Well, that title may be in jeopardy if the International Olympic Committee rules he violated some sanctions with his Louis Vuitton campaign.

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Here's the problem: Olympic athletes are barred from participating in marketing campaigns for a certain period before and during the Games. This year's prohibited period was from July 18 to Aug. 15 — and the first images from Phelps' LV went viral on Aug. 13.

Uh oh.

Athletes in violation of those rules can lose competition eligibility and even previously earned medals. The IOC hasn't ruled on Phelps' case, but he might be in big trouble.

Phelps might be worried, but he's definitely not showing it. He's got his hot girlfriend, Megan Rossee, a new gig on the golf channel and his fat bank account to keep him occupied. The Mer-Man is even known to spend $25,000 on a single poker game.

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"I love to play, it’s fun, it’s exciting. It was more something so that I could have time to myself. I could relax, I could be myself, and I could have fun," he said recently. "It’s a place where I can be me. I’ve met some of my best friends at a poker table. Some of the kids I’m always with, who I talk to every day."

He can afford it, for sure: The swimmer's coffers are full to the tune of $45 million, not to mention new deals as a result of the Summer Games.

Must be rough.

Image courtesy WENN.com