According to TMZ, after 2012 in London Michael Phelps might just not be quite done yet with the Olympics after all:
"TMZ's learned TV execs are drooling over the chance to get Phelps under contract once he wraps up the Games as the most decorated Olympian of all time.One source, high up at NBC Sports, told us ... "The man is smoking hot right now" -- and they "would definitely hire Michael" to cover the Olympics in 2016, and other world sporting events between now and then."
It's well-known that Phelps is retiring after these 2012 London Olympics, but he hasn't yet said anything concrete regarding his future plans for employment. And unfortunately for any of these bidding war rumors, NBC has exclusive rights to the Olympics through the year 2020. I find it hard to believe that any major network, whether it be ESPN, CBS, Fox (or whomever else), would bid against NBC for the services of Phelps. Let's not kid anyone here, Phelps doesn't offer much to a network outside, you know, swimming.
On the flip side for NBC, regardless of whether he's the next Bob Costas (good) or Tiki Barber (very, very bad) behind the mic, one would have to think that Michael Phelps and his all-time Olympic medal count record would be ratings gold if he comes anywhere near a pool ever again.