Michael Phelps is leaving Octagon, the sports agency that represented him for over 20 years, to sign with The Familie, a sports marketing agency that helps athletes build business ventures outside of sports.

Even though he retired from swimming in 2016, Phelps is still looking to complete some business goals with his various brand partnerships.

He is currently working with several major companies and looking for more opportunities.

Why Michael Phelps Decided to Make a Change

The news was reported by Sportico as part of its November 2026 business roundup.

Phelps hasn't yet publicly stated why he's leaving Octagon. His new agency helps athletes look for business opportunities outside of sports.

The Familie is a sports marketing agency that represents athletes, entertainers and other public figures. The agency helps clients build their brands and find ways to make money from their names outside of their primary careers.

The founder of The Familie, Steve Astephen, has represented many of the world's top athletes in his career, and it will be interesting to see how Phelps works with Astephen and what types of opportunities come from his new relationship with The Familie.

The terms of the deal between Phelps and The Familie have not been made public, but Phelps could look for opportunities to invest in companies as well as explore media projects through his new relationship with the agency.

Phelps Has Talked About Wanting More Than Endorsement Money

Michael Phelps, the swimming legend, discussed his approach to managing his finances in a July 2026 interview about his financial experiences. He referred to his mother, who had taught Phelps how to manage his money from a young age.

When Phelps was a young swimmer, his mother would allow him to spend a portion of the money that he earned from breaking world records. This was the start of Phelps learning to manage his money.

Phelps also discussed his work with financial advisers and how he distinguishes between earning money from endorsing products of companies and owning a share of those companies.

These types of opportunities would be different from Phelps' traditional endorsement deals and would provide him with a chance to own a piece of a business. Other athletes, including Drake Maye and Dak Prescott, have already taken that approach by becoming part owners of companies they promote.

Phelps is still active with the Michael Phelps Foundation, which supports water safety and mental health programs. He has maintained these interests since his retirement from competitive swimming. Damar Hamlin has also used a major brand partnership to bring more attention to mental health through his work with Under Armour.

After more than 20 years with Octagon, Phelps is making a change to the way he manages his business career outside of the pool. Whether his next big move involves investing in a company or taking on a new media project remains to be seen.