Everything comes up smelling of roses for Speedo

SWIMWEAR giants Speedo were named sports brand of the year at the Sports Industry Awards last night, despite the controversy that rages over their swimsuits.

GOLDEN BOY: Michael Phelps'  marijuana indiscretion has not dented Speedo's reputation as far as the Sports Industry Awards are concerned (Getty Images)

Their reputation has clearly not been tarnished by the raging debate over the LZR Laser Speedo that has revolutionised swimming as Speedo fought of competition from Nike and BBC Sport to scoop the award in Battersea.

The LZR Lazer was responsible for 79 of the 108 world records in 2008, prompting world swimming governing body FINA to introduce new legislation to level the playing field.

Speedo, it seems, have also emerged unscathed from February's Bonggate scandal, when golden boy Michael Phelps' fling with Mary Jane was exposed.

Also picking up awards at the ceremony were Paralympics GB and TeamGB who were both jointly honoured with the outstanding contribution to British sport award for their contributions to the Olympic and Paralympic Games in Beijing.