He probably agreed to compete in them when he signed his endorsement contracts from four years ago. Now, he's not so thrilled.
CBS mentioned that Phelps has earned $40 million from endorsements thus far.
His mom said she would like him to compete in at least one event in Rio de Janeiro in 2016 (I think she mentioned the 50 meter heat....not sure). Phelps sounded like he was determined to retire after the London games.
He said he wants to see the world. Phelps complained that he’s been to many countries, but all he every sees are his hotel and the swimming pool.