Southampton's former Olympic star Pete Waterfield has announced his retirement from diving.

Waterfield has called time on a two-decade-long career that was highlighted by his silver medal alongside Leon Taylor at the 2004 Athens Olympics, while he won gold in the individual platform at the 2002 Commonwealth Games in Manchester.

The 32-year-old narrowly missed out on adding another Olympic medal to his haul in London last year when he and Daley finished fourth in the 10 metres synchro.

He has failed to make a competitive appearance since London as he has struggled with injuries, and created a stir earlier this year when he claimed his family could be left "homeless" after a decision to cut his funding.

The father of two was subsequently handed a new six-month deal which was due to be reviewed next month after the World Championships in Barcelona.

But his recent inactivity has meant Waterfield will not compete in Spain and has prompted his retirement decision.

"I always said that I would continue diving for as long as my body allowed me to and I'm so grateful to have had so many amazing years in the sport, doing what I love, but the time has come to hang up my trunks," Waterfield said in a statement issued by British Swimming.

"As much as I tried to prepare myself for the upcoming World Championships, I wasn't able to and that told me that it was time to reconsider my next steps. I'm so proud of everything I've achieved in my career and couldn't ask for anything more.

"Stepping away from the sport will allow me to spend more time with my wife and my two boys, who I had to leave on so many occasions throughout the years for training camps and competitions, so that's something I'm really looking forward to."

British Diving national performance director Alexei Evangulov led the praise for Waterfield, who retires as arguably one of Great Britain's most successful diver ever.

"Peter has had an outstanding career in diving achieving on every level of competition,"

Evangulov said. "His silver medal in Athens was the first for Great Britain in over 40 years, which followed his gold in Manchester at the 2002 Commonwealth Games and he then went on to win bronze at the World Championships in 2005.

"He was an inspiration to many of the younger divers that are coming up through our programmes and will continue to inspire generations to come. "From everyone at British Diving we want to wish him luck for the future."