Phelps trains in Michigan
One party-goer who witnessed the stars behaviour told the News of the World: He was out of control from the moment he got there.
If he continues to party like that Id be amazed if he ever won any more medals again.
Phelps aides went into a panic over our story and offered us a raft of extraordinary incentives not to run the bong picture.
It was on November 6, weeks after his Beijing triumph, that 23-year-old Phelps surprised students at the University Of South Carolina in Columbia by showing up unannounced at a house party.
He was visiting Jordan Matthews, a girl he was secretly seeing who was a student there.
Our source revealed: Michael came to visit Jordan but ended up just getting wasted every night.
He didnt know many people so youd think hed be a little shy. But he was loud, obnoxious and slamming beers from the get-go.
Every girl wanted a piece of him and every guy wanted to be his best buddy. He couldnt get enough of all the attention.
As he basked in his hero status, Phelps knocked back beers and shots of spirits. And when a student offered him the glass bong engraved with red writing, he did not hesitate, says our source.
The 6ft 4ins athlete, in a white T-shirt and navy cap worn back to front, clasped the device in his huge hands and inhaled deeply.
Our source said: You could tell Michael had smoked before. He grabbed the bong and a lighter and knew exactly what to do.
He looked just as natural with a bong in his hands as he does swimming in the pool. He was the gold medal winner of bong hits. Michael ended up getting a little paranoid, though, because before too long he looked like he was nervous and ran out of the place.