Photo by Vince Caligiuri

King of the gold, swimmer Michael Phelps is cashing in on his Olympic success. In Beijing, Phelps made history by diving into the pool and racing to eight gold medals in a single Olympics. Phelps surpassed the record of seven gold medals set by swimmer Mark Spitz in 1972.

Phelps is only 23, but last week Free Press won an auction for his memoir called “Built to Succeed.” The narrative of the book will be built around his eight terrific wins in Beijing, along with anecdotes about his family, coach, and passion for swimming.

“Built to Succeed” is scheduled for release this December with a first printing of 500,000. They’re searching for a co-author to help Phelps make that deadline.  Also, the deal includes a children’s book for 2009.

Phelps plans to be doing more than writing. In a New York Times August 18 article by sportswriter Karen Crouse, Phelps says he wants to raise the profile of his sport. “My whole goal is to change the sport of swimming in a positive way.”

Phelps would like to see swimming be more than an every four-year event. Meanwhile, Phelps sees himself competing in the sport he loves through the 2012 Olympics in London.

More at Publishers Weekly and The New York Times websites.

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Olympic swimmer Dara Torres won three silver medals, but no gold in Beijing. A great accomplishment for any athlete. Torres is the first U.S. swimmer to compete in five Olympics and the oldest swimmer to win a silver medal in the Games. Still, it’s not all over for the 41-year-old mother of a toddler. Now, Torres is going for the big bucks.

Sports agent Evan Morgenstein says the offers are pouring in for the swimmer. Torres had a number of endorsements before she swam a stroke in Beijing. Also, she has a multi-million dollar two-book deal with Random House’s Broadway Books.

Torres’ first book is an inspirational memoir set for publication next spring.  The second is a fitness guide due out in early 2011.

The Penguin Group and heirs of John Steinbeck’s third wife, Elaine, won a major victory in the 2^nd U.S. Circuit Court of Appeals today.

The New York court reversed a lower court decision that was in favor of a son and granddaughter of the late author.

Today’s ruling returns to Penguin the rights to 10 of the author’s earlier works including, “Of Mice and Men,” “Tortilla Flats,” and “The Grapes of Wrath.” Steinbeck is one of the best-known and most widely read authors of the 20^th Century.

He was born in Salinas, California in 1902 and attended Stanford University before seeking his fortune as a writer. He won a Pulitzer for “The Grapes of Wrath” in 1940 and a Noble Prize for Literature in 1962 as well as many other honors. Steinbeck died in 1968, leaving his copyrights to his wife, Elaine.

In 1994, she signed a new licensing agreement, replacing contracts made in the 1930s, for a number of Steinbeck’s works with Penguin. Steinbeck’s widow passed away in 2003. 

A court battle followed. In 2006, a lower court terminated the agreement with Penguin and awarded the copyrights to the author’s only surviving son, Thomas Steinbeck and granddaughter, Blake Smyle.

 Today, the  federal appeals court upheld the agreement between Penguin and Elaine Steinbeck.

How to Shop for a Husband.

Today Show consumer correspondent Janice Lieberman has a new book deal. Lieberman, writing with Bonnie Teller, will show how techniques used by consumer experts can help you close a deal on a mate.

St. Martin’s Press bought world rights to “How to Shop for a Husband” and plans to release the book next spring.

Lieberman is the co-author of  “Tricks of the Trade.” She wrote this consumer survival guide with producer/director Jason Raff, who at one time worked with Lieberman on consumer investigations for Today.

From Publishers Weekly.

New opportunities for Writers.

Medallion Press is getting into the nonfiction end of the publishing biz. The small publisher has built a reputation on mainstream and genre fiction, especially romance. Medallion plans to continue to put out fiction, but will add a new imprint for publishing motivational and self-help books, along with autobiographies and memoirs.

Medallion has several nonfiction book projects in the works. One is a memoir by Dawn Schiller called “The Road Through Wonderland,” which will focus on the author’s bizarre relationship with porn star John Holmes and her struggle to get beyond her past.

 Actor Val Kilmer and actress Kate Bosworth appeared in the 2003 film “The Wonderland Murders” and will contribute to a foreword for Schiller’s book due to be released in August 2010.

A memoir by Medallion publisher, historical author, and heir to the Wrigley fortune Helen A. Rosburg is due out in November of 2010. Then in January of 2011 the release of a motivational book by personal trainer and fitness educator, Staci Boyer.

 More details on the Medallion Press website.