Schuettler hangs up his racket

Germany's Rainer Schuettler has announced he is retiring and will now turn his attention to organising a new tournament in Dusseldorf. "You have to know when to stop. At 36 years, the time has come to change horizons," the former world number five told a press conference on Tuesday. Schuettler also announced a second career as co-organiser of a new ATP event -- the Power Horse Cup -- which will take place from May 17-25, 2013. "Last year I was still dreaming of competing in the Olympic Games. But it wasn't a good year, I missed the Games," he explained. "I have so many ideas in my head." Schuettler turned pro aged 19 years and reached the Top Ten in April 2004, peaking at a career-high number five on his 28th birthday. He played his last match in Doha this year where he won the first of his four ATP titles in 1999. He was the last German to reach a Grand Slam final when he lost to Andre Agassi in the 2003 Australian Open. Schuettler also won a silver medal in the doubles at the 2004 Athens Olympics.