Five-time Olympic swimming champion Ian Thorpe plans to host and co-produce a two-hour TV special with the Foxtel network.

Thorpe announced on Tuesday that he was retiring from swimming at the age of 24 after nearly a decade at the top of the sport.

He now is in negotiations with Foxtel to produce the TV special, which will probably look at how young Australians can shape their country, News Limited reports.

The retired swimmer is also likely to take part in a 13-part Foxtel series in which he will travel the world uncovering hot new trends, according to the paper.

"It's great to slow down a bit. You have the opportunity to appreciate the things you have," Thorpe told News Limited .

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