Michael Phelps rules out Rio Olympics comeback

Rio de Janeiro: Legendary swimmer Michael Phelps has ruled out the possibility of competing at the 2016 Rio Olympics, saying he is "happier" in retirement.

Speaking ahead of Monday night`s Laureus World Sports Awards here, Phelps said he was relishing the opportunity to dedicate time to other projects.

"I am having fun. I love being retired, I can`t stress it enough," Phelps said during a swimming event for underprivileged children at the Rocinha slum.

"I am happy, smiling and more relaxed. It`s something that I have wanted for a long time and now I`m happy that I can make the most of it."

The 27-year-old admitted he had made the most of his time in Rio by visiting the city`s famous beaches.

"This is my second time here and it`s very impressive. I`ve never seen anything like it. The people here are incredible. Yesterday my agent and I decided to go to the beach and it was great to see how everybody seems to be having fan and is so relaxed. It`s not something you see too often. It`s going to be something special for Rio to host the Olympics and the World Cup with this type of spirit," he said.

Phelps announced his retirement after last year`s London Olympics, where he won four gold and two silver medals. He is the most successful Olympic swimmer of all time with 22 medals, including 18 gold.