Michael Phelps diving in for his first race back -- over Ryan Lochte, who would go on to win the 100 fly final later Thursday night // photo Getty Images

Michael Phelps diving in for his first race back -- over Ryan Lochte, who would go on to win the 100 fly final later Thursday night // photo Getty Images

Swimming

Phelps having fun, and it’s all good

Thirty years ago, amid the delivery of the Los Angeles 1984 Olympic Games, which proved a huge success, Peter Ueberroth reminded the world of a classic strategy. It works in business. It works in sports. Really, it’s the best strategy for pretty much everything.

You under-promise and then you over-deliver.

Olympics Day 14 - Athletics

Track and field

USATF, Nike in apparent $500 million deal

USA Track & Field on Tuesday announced a groundbreaking 23-year deal with Nike apparently worth $500 million, an arrangement that holds the potential to transform the leading sport of the Olympic movement in untold ways in the United States for a generation.

The Nike deal comes 13 days after USATF announced a seven-year partnership with Hershey, the chocolate maker. In February, 2013, USATF announced Neustar, the administrator of the .US top-level domain, as the three-year sponsor of its national road-racing championships.

ANOC dignitaries, with Sheikh Ahmad at the center, before Monday's news conference

ANOC dignitaries, with Sheikh Ahmad at the center, before Monday's news conference

IOC

ANOC gets big-time professionalized

KUWAIT CITY, Kuwait — When you are living it in the moment, it is of course a challenge indeed to know whether a three-day meeting spread across a hotel complex and an office tower makes for a turning point, the sort of thing that accounts for the sort of thing Olympic historians can one day point to with distinct accuracy and say, this was when it all came together.

As it drew Monday night to a close, however, it seemed abundantly evident that the time is now for the 204-member Association of National Olympic Committees.