BEIJING -- "This changes everything."

With those three words, Peter Carlisle, sports agent to the hottest athlete on the planet, summed up what Michael Phelps' historic Olympics performance did, not only for Phelps, but perhaps for the Olympics themselves.

Carlisle, 40, is the director of Octagon's Olympic and action sports division. He is a graduate of Bates College and University of Maine Law School.

His office has a Portland address, a stipulation he insisted upon when Octagon bought Carlisle Sports Management back in 2001.

His world is global. And thanks to Phelps, it's about to expand even more. In one of the rare free moments he has had since Phelps became the first athlete in Olympic history to win eight gold medals, Carlisle said the real impact of Phelps' performance will be evidenced in coming years.

"This performance changes everything, and not just for Michael," Carlisle said in a phone interview this week. "The Olympic market changed, not just Michael -- but the Olympics themselves, the way we look at them, the way they will be presented."

As Phelps swam his way to history, Carlisle watched curiously from his perch at the National Aquatics Center, always thinking, always planning.

"You don't expect anything like that, you can't bank on it," he said. "But if you don't plan for that possibility, then you're not doing your job. We've been planning for this for six years."

That's when Carlisle became Phelps' agent. Four years ago, Phelps won six gold medals in the Athens Games. That's when the wheels really began turning.

"We know how hard this was to do," Carlisle said. "There were a lot of expectations and hopes for him. What he did was very satisfying and rewarding."

Carlisle has a staff of seven at the Games. They have been working almost non-stop " "You get maybe two hours of sleep," he said -- since Phelps stopped swimming and winning.

There are interviews to do, appearances to make and, of course, negotiations.

"We have numerous opportunities," Carlisle said. "I've got to be honest with you, I've never seen anything like this."

Phelps isn't Carlisle's only client. His stable includes Portland's Ian Crocker, who is still the world record holder in the 100-meter butterfly as well as swimmers Kirsty Coventry, Katie Hoff, Megan Jendrick, Ryan Lochte and Garrett Weber-Gale, all names synonymous with Olympic medals.

They will all benefit from Phelps' effort, though Carlisle said it may take some time.

"You cannot quantify what the net effect will be," Carlisle said. "My gut says everything has changed."

Carlisle admits that good fortune has played a huge role in his life. He started small, with his office on Fore Street in the Old Port, and today is a hot commodity.

"I've had good fortune," he said. "I've stayed at it, I work hard and I'm competitive. But a lot of it is chance. I've been lucky."

Initially, Carlisle worked almost exclusively with winter action sports stars -- one of his clients is Maine"s Seth Wescott, the 2006 Olympic gold medal winner in the snowboardcross -- but now his clients are equally spread across summer and winter sports.

Wescott has seen Carlisle's empire has grown since 1998 when the two met via his small action sports agency in Maine.

"When I started with him it was just him," Wescott said. "He'd type every letterhead. Answer ever e-mail -- I think it is just remarkable in general for him to be in the position he's at."

Wescott said the moment that the Turin Olympics wrapped up in 2006, Carlisle shifted his focus to Beijing.

"He has been full speed ahead in getting things prepared for Michael in anticipation of what has ultimately become the greatest Olympic achievement," Wescott said. "It's a major process. People might not understand the years of work that goes in ahead of time."

Crocker indicated he was going to take some time off from swimming. As his agent, Carlisle said that might not hurt Crocker's marketability.

"He is still the world record holder in the event," Carlisle said. "And in swimming, if you have achieved success, you have the potential for marketing opportunities."

Carlisle isn't worried about what Crocker will do next. Unlike many swimmers, who are totally immersed in the sport and its culture, Crocker has always maintained many outside activities.

"Of all the swimmers I work with, Ian has maintained as much balance as anyone," Carlisle said. "I see him transitioning in so many other things with ease."