Michael Phelps' message to Tokyo Olympics athletes: ‘Focus on what you can control’

Yahoo Finance’s Julie Hyman, Brian Sozzi, and Dan Roberts speak with Olympic Gold Medalist Michael Phelps about his role in the Colgate Optimism Project, and how to take care of your mental health during COVID-19.

Video Transcript

BRIAN SOZZI: Switching gears here, the most decorated Olympian of all time, Michael Phelps, is teaming up with Colgate to help spread some positivity. After months of dealing with the pandemic, we could all use something to smile about right now. Michael Phelps joins us now. Michael, good to-- good to speak with you this morning. So you're working on the Colgate Optimism Project. What is that? And then secondarily, how are you? You know, our entire team read a really powerful piece you penned in May, on ESPN, about how you've been dealing with, you know, mental health issues during the pandemic. How are you?

MICHAEL PHELPS: I mean, I'm-- I'm riding a few waves up and down, but I think we all are. And I think, you know, that's the greatest part about. you know, what Colgate's doing in this optimism campaign. You know, if you take a look at what our six members are doing in their community, ranging from, you know, helping homelessness, to inclusivity, to helping people get food and the necessities they need, but also helping make protective gear. If you look at what-- what the range of these kids are doing, it's impressive, you know, especially through something like this, where there is so much unknown.

JULIE HYMAN: Michael, Julie here. And so, you know, I think all of us have been going through a lot over this period of time. Some have less than others, to your point. And so, I wonder then if we can turn to helping other people almost as a way to help ourselves as well. So I'm wondering, specifically with your involvement in this project, what you're doing?

MICHAEL PHELPS: Well, the thing is that, you know, I look back at my career and, you know, for me it wasn't the smoothest road that you could possibly go on. And-- and, you know, I was still able to do everything that I wanted to accomplish and achieve my goals that I wanted to accomplish. So you know, if you take the-- the current situation that we're all in, you know, we don't know when it's going to end. We don't know when we're going to have social interaction again.

So if you look at-- at, you know, right where we live, our little small community, if we can do something to help our community grow to-- to give them positivity, you know, I think that's something that's so big. And-- and, you know, I've always controlled-- or focused on what I can control, and-- and that right there single-handedly has helped me be able to do everything that I've been able to do.

BRIAN SOZZI: Michael, any-- any tips to-- to folks that might be dealing, or just having a tough time from mental aspect during the pandemic? How-- how have you overcome things that you've been dealing with?

MICHAEL PHELPS: Well, I'll say, first of all, you're not alone if you are struggling. I'll be the first one to admit it hasn't been the smoothest road for me either. You know, I've-- I've just been trying to survive the waves, I guess you could say. I've gone through some pretty emotional roller coasters through this and been able to learn a lot about myself. And I think that's been one of the funnest things for me, but also challenging. You know, I think-- I guess I can't say it enough. There is so much unknown. So just for me trying to stay in a routine and making sure I'm taking care of myself, I think has been a big important factor.

DAN ROBERTS: Michael, Dan Roberts here. Speaking of unknowns, while we have you, can I ask you about the Olympics? You know, having been to so many Olympics yourself, as of right now, Tokyo Olympics are going to happen in July 20, 2021. But can you tell us a little bit, what would it be like for Olympic athletes who thought they were going to be there in 2020 to have to delay a full year? I mean, obviously there is the training regimen, there is-- well, for the older athletes maybe they were going to be able to compete in 2020, when you delay it a year, maybe that makes them unable to compete. What are people who are still in the Olympics going through?

MICHAEL PHELPS: Well, I would say it's probably more of a mental challenge than anything else, you know, because I think, you know, as an Olympic athlete, we kind of work in four-year quads, or quads, right? So you know, trying to not only get physically ready, but mentally ready as well. And then you get a wrench thrown in there, you can kind of go crazy and lose control over what you're trying to do. So-- so my-- my biggest thing is I would say, do what you can control. Focus on what you can control. That is something that's so important going into this.

So training, making sure you're loose, stretching, lifting, whatever you can always, always, always try and do. You know, I-- going into this-- this pandemic I was afraid and worried for everyone's mental health. So I think and I hope that this is a good time that we've all been able to take that step back, or take that extra breath that we need, you know, to-- to ground ourselves, to make sure that we're being our best selves.

DAN ROBERTS: And then, Michael, you know, we cover the big sports business sports apparel names very closely. You are still an Under Armor sponsored athlete. You're still doing new ads with them. You've used that platform for good. We've covered kind of the business challenges of Under Armor in the last few years. Now the company is launching a Curry brand. But really, in the last kind of seven straight quarters, that company has struggled in North America. I always love to ask, you know, guys like you who have endorsement deals, does such a thing matter to you? Do you follow the business ups and downs of Under Armor, and what are you up to with the brand lately?

MICHAEL PHELPS: Oh, I mean, of course-- I'm somebody that knows numbers. I'm an absolute geek on numbers. So yeah, I mean, I have always been a strong believer of Under Armor. That's why I'm with them. You know, I-- as a Baltimore-based brand and knowing Kevin as well as I do, you know, he has become a real big visionary, and one of the biggest visionaries I've met. So you know, being able to still work with them and still try and make a difference in the athletic world, but also just the everyday lifestyle. You know, I think that's something that's so important.

And-- and I love what we're doing right now. We got some cool stuff coming out. We have a new campaign we're about to launch. So working out is still every day for me, so this is something that I'm excited to be just a part of it. I'm a kid in a candy store. It's hard to-- it's hard to say that once I retired from something that I did for so long, I still get to do what I love to do, and-- and trying to push the importance of healthy and active lifestyles, but also making sure that you're paying attention to your mental well-being as well.