SYDNEY — Five-time Olympic swim champion Ian Thorpe says he had financial problems after his personal savings were affected by the global economic crisis.

The Australian, who retired in November 2006, tells News Limited newspapers he recently had serious cash-flow problems after shedding sponsorship deals to focus on his university studies.

When Sydney broadcaster Alan Jones became aware of Thorpe's situation, he telephoned the head of an Australian bank to seek her help in restructuring Thorpe's financial affairs.

Thorpe says he has streamlined his interests since the crisis, according to the story that appeared in the newspapers on Saturday.

Thorpe won three gold medals at the 2000 Olympic Games and two silver medals.