His award was introduced by Hollywood superstar couple Michael Douglas and Catherine Zeta-Jones, and the presentation was made to him by Bobby Charlton.

‘‘I am very honoured and proud to receive this award,’’ said Redgrave, who then could not resist a joke with the audience.

He added: ‘‘Maybe in four or five years I’ll be standing here with the comeback of the year award! Now that would be some comeback.

‘‘But seriously, I have finalised my decision that I am no longer competing. I do not know what I am going to do long-term, but I have a couple of short-term projects and at the moment I am trying to raise £5million for children’s charities to give youth a sporting chance.’’

Redgrave was edged out of the award for World Sportsman of the Year, which went to American golfer Tiger Woods for the second successive year.

Woods was chosen after winning last year’s US Open, British Open and the PGA Championship.

Chelsea’s Marcel Desailly was also in Monte Carlo with some of his team-mates from the French national team, as the world and European champions from France received the Laureus World Team of the Year title.

American tennis star Jennifer Capriati rounded off a memorable year by claiming the Laureus World Comeback of the Year award, following her triumph in the Australian Open last year, while Australian runner Cathy Freeman won the World Sportswoman of the Year title.

British racing driver Jenson Button just missed out on the World Newcomer of the Year award, which went to tennis player Marat Safin.

The 2001 Laureus Sports Awards, held under the High Patronage of HSH Prince Albert of Monaco, recognised and rewarded sporting supremacy between February 1, 2000 and January 31 of this year.