Michael Phelps has released an official statement acknowledging that he engaged in inappropriate and immature behavior following the release of photos showing him smoking out of a bong.

You can view the statement on his facebook fan page here:
MP's fan page

and read an additional article at ESPN.com:
ESPN article

We'd like to state again that we stand behind Michael and send him our love and support through this difficult time. We can only hope that others are just as understanding and forgiving.