A tidal wave hit the Chipping Norton resident on Friday when he lost the prized job he had held since 2005 as head coach of the Australian Olympic team with Swimming Australia.

Mr Thompson accepted a redundancy package from Swimming Australia after his roles as head coach and general manager of high performance were split, against his wishes.

The 51-year-old former school teacher said he could not speak about the circumstances surrounding his departure because of a legally binding confidentiality agreement.

A defiant Mr Thompson told the Champion he has ``no thoughts of leaving the sport''.

``I am not taking any holidays with the family or taking a break. I have been a swim coach since 1980,'' Thompson said.

``I am looking for things to do in business and to keep myself busy.

``I have learned a lot in my time as a swim coach and running swim school businesses and I have a lot to offer.

``I have no concrete plans at this stage.''

Mr Thompson also said he had not received any overseas coaching job offers, despite some reports in the media.

Since 2004, Thompson and his wife Lynne together with friend and swim coach Tony Shaw and his wife, Nancy, have operated Holsworthy Wattle Grove Aquatic Education Centre.

``I will be putting more energy into the pool business at Holsworthy,'' he said.

Before his sudden departure, Mr Thompson had stood down from his job to take leave in December.

Swimming Australia appointed a leading barrister to investigate claims of ``misconduct'' raised against him.

The inquiry is being headed by Louise Donohoe, a senior Canberra barrister.

Swimming Australia said at the time it ``was not a criminal matter''.