Stephanie Rice 'dumps management'

Stephanie Rice has dumped her management after deciding that they charge too much money.

The Aussie swimming champion, who was originally looked after by International Quarterback, has decided to "self-manage" her career and earnings.

A source close to Rice told the Herald Sun: "She looked at the figures and saw 20% of her earnings going to her management company and she felt it was a lot of money and decided to manage herself - which is her prerogative."

Rice has apparently now taken on her marketing expert friend Claire Groves to advise her.

The 21-year-old gold medallist is believed to earn approximately $800,000 (£442,000) a year in deals with Channel 7, Davenport underwear, Telstra, Speedo and Sunrice.