The 37-year-old, whose two golds at London 2012 took his overall tally to seven medals from four Olympic Games – six of them gold – has scheduled a media conference at Murrayfield Stadium in Edinburgh on Thursday where it is anticipated he will clarify his future.
An immediate retirement would prevent Hoy from competing at next year’s Commonwealth Games in Glasgow at the velodrome named in his honour – the first indoor facility of its kind in his native Scotland.
The track sprint star already has two Commonwealth gold medals in his bustling trophy cabinet and has been crowned world champion a staggering 11 times.
Hoy, who was knighted in 2009 for services to sport and holds two world records, did not compete at the Track World Cup in Glasgow last November or the World Track Championships in Belarus in February, adding to speculation that he may be set to call time on a career that has spanned three decades.
But on the subject of competing at the Commonwealth Games in Glasgow in 2014 he said late last year: “There’s no chance I don’t want to do it. The motivation is there and the desire is there. It’s literally down to whether I can do it or not.
“I wouldn’t just want to get on the team to get the tracksuit, turn up and wave to the crowd. I want to go there to win. If I believe I can do that and I’m able to do that then I will be there.”
Winner of six Olympic gold and one silver medal
In 2008 became the first Briton since 1908 to win three gold medals at the same Games
Named BBC Sports Personality of the Year in 2008
Knighted in 2009
Team GB’s flag bearer at the London 2012 opening ceremony