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"Katie's doing her thing, and she's breaking records every time she gets in the pool," said Phelps, who won 23 Olympics gold medals during his career. "It's been an honor for me to be a part of the team with her and some of the younger guys that we have coming up in the sport that are going to take over."
Phelps announced his retirement Monday.
Ledecky, who won four gold medals and one silver in Rio, added, "I started watching him when I was 6 years old when I was first starting to get in the sport, and to be on the team with him has been such an honor."