The 2023 class of athletes who retired includes many names you’ve heard of, like NBA legend Carmelo Anthony and Olympic medalists Megan Rapinoe, Peter Sagan, Tessa Worley and others. But they all have one thing in common: they all walked away from their respective sports in style.
As more and more young athletes train to be elite, they can find themselves facing retirement at a much younger age than in the past. This is especially true for women, who can retire in their late 20s or even earlier. A recent scoping review suggests that this trend may have serious implications for athlete wellbeing.
“Athletes who are unprepared or struggle to adapt to the transition from sport often experience negative psychological states, such as depression and anxiety, which can have a significant impact on their daily functioning,” the report says.
It’s not uncommon for professional athletes to find new careers in business, coaching or politics after retiring from their sport. Many of them also take on public speaking, philanthropy and mentoring roles. Others become product endorsers, such as Charles Barkley, Michael Jordan or Tom Brady.
Athletes often need support after leaving the spotlight, but it can be difficult to find. The U.S. Olympic and Paralympic Committee recently announced a $100 million program to provide post-retirement financial assistance for Olympians. The funding is largely from a gift by Richard Stevens, the CEO of Stone Ridge Holdings Group. The program will pay each U.S. Olympian $100,000 per Olympic Games they compete in — and it will multiply with each additional Olympic Games they participate in.
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