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Michael Phelps signs with new swimsuit company

Aug 5, 2014, 10:57 AM EDT

Michael Phelps AP

Michael Phelps found a new swimsuit company after parting with Speedo, but he can’t swim in the new suit just yet.

He’s now with Aqua Sphere, a company designing a racing suit for the first time, according to The Associated Press.

At his first meet since the London Olympics in April, Phelps said his 12-year relationship with Speedo ran out at the end of 2013, he was a suit “free agent” and wore an Arena model in the meantime.

Aqua Sphere was founded in Italy in 1998 with an emphasis on swimming eyewear. Since the company is creating a new suit for Phelps, it must be approved by FINA and can’t be worn in competition until 2015 at the earliest.

Seven-time Olympic medalist Amanda Beard has trained in Aqua Sphere suits.

Phelps signed his first-ever endorsement deal with Speedo in 2001 when he was 16 and had extended the deal for four years in 2009, one year after earning a $1 million bonus from the company for winning eight gold medals in Beijing. He used that money to start his own charity foundation.

“Throughout my career, I’ve been able to do a lot of things with Speedo. The relationship was great,” Phelps told the AP. “But we came to a point where we had an opportunity to really change the sport and grow the sport even more.”

Though Phelps has yet to commit to racing through the Rio Olympics, the Aqua Sphere contract runs through the 2020 Tokyo Games, according to the AP.

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