Disgraced Olympian cops guilty plea, dodges jail time.

 He pled guilty to DUI in a Baltimore, Md. Court today.

The Olympic aquatic kingpin, 29, received a 1 year suspended sentence with 18 months maximum sentence of I year in jail – his 2nd DUI rap.

Cops collared Phelps in September for speeding and swerving after he left Baltimore’s Horseshoe Casino on Sept. 30.

Police said his blood-alcohol content was .14 percent.  USA Swimming suspended the 18 time gold medalist for six months.  

“I understand the severity of my actions and take full responsibility,” he tweeted. “I know these words may not mean much right now, but I am deeply sorry to everyone I have let down.”

After the arrest, he took to Twitter to apologize to his fans. He entered a six-week treatment program in October.

 As the ENQUIRER previously reported in 2009, U.S. swimming officials suspended Phelps for three months after a photo of him puffing on a bong surfaced.

After his first DUI in 2004, Phelps struck a deal with prosecutors and was given 18 months’ probation.