Kellogg dumped merman Michael Phelps after finding out he smokes weed, even though everyone knows Frosted Flakes are so good, toasted. Now it looks like Subway—also great toasted!—is making the same mistake. [Update: Subway statement.]

The sandwich chain is yanking Phelps off its website. He's no longer "buzzworthy," ironically. Current and cached screen grabs:

The company hasn't made any announcements yet, but according to Buzznewsroom:

However, in de-linking all references to Michael Phelps, this is Subway corporate as they prepare for dropping their sponsorship. Our insider told us Subway execs are pissed off, talking to legal, want their endorsement money returned - and to "get rid of this embarrassment."

Also ironic: Phelps signed on with Subway last November, partly to shake off the bad PR he got for signing up with McDonald's and Kellogg, which people said weren't healthy. (All those people were probably smoking weed). The deal was supposed to extend through 2012. But now it looks like that Jared-Phelps coalition will never come together.

Fools. Taco Bell is open later, anyhow.

Let us demonstrate just what Subway's missing out on (courtesy Gawker video artiste Richard Blakeley):

Update: Perhaps Subway has taken our advice. While Phelps still isn't listed as one of their "Buzzworthy" celebs (leaving whoever Ryan Howard is as their top spokesthlete) they issued this statement: "Like most Americans, and like Michael Phelps himself, we were disappointed in his behavior. Also like most Americans, we accept his apology. Moving forward, he remains in our plans." Feel free to use our redesigned page when you reinstate Phelps, Subway.