The Sunday Mail says the 33-year-old gold medallist in now in relationship with swimsuit model and legal student Ryan Channing, 26.
A friend of the couple says there’s no denying the connection between Ian and Ryan, who were most recently spotted out cruising the Sydney Harbour on a luxury boat.
“While it is early days in relationship terms, they are smitten with one another,” confirms the friend.
“Over the past few weeks Ian and Ryan have been inseparable.
“They have been going out in public together and meeting one another’s friends, they seem really happy.”
The bond supposedly grew after being introduced through mutual friends.
Although Ian is yet to make any public comment, the famously private star, who first came out in 2014, is also making no effort to hide the obvious sparks with Ryan.
The new couple has also been spotted out at Adam Lambert’s recent Sydney show and the city’s St Jerome Laneway music festival.
Ryan reportedly splits his time between Sydney and Perth, where his family still lives.
The WA-born model calls A-listers such as singer Samantha Jade and fashion designer Adrian Norris his friends.
News of Ian’s burgeoning relationship is good news for Sydney’s Mardis Gras Film Festival, which runs from February 18 to March 3.
Ian has just been announced as a panelist who joins other high profile gay athletes to discuss the impact their sexuality has had on their careers and personal lives.
The panel follows the film festival’s screening of documentary Out to Win on February 28.
The doco examines the lives of aspiring and professional gay and lesbian athletes, and features interviews with Billie Jean King, Jason Collins, John Amaechi, Martina Navratilova and Michael Sam.
“We are thrilled to host so many Australian sporting legends at our screening and highlight one of our key themes this year which is a focus on LGBTIQ and equality in sport,” says festival director Paul Struthers.
Olympian Daniel Kowalski is also hoping to convince Ian to be the star of the first Australian Olympic Committee-endorsed float at the Sydney Gay and Lesbian Mardi Gras Parade on March 5.
So far 50 Olympians and Paralympians are confirmed to march with the float, and many believe Ian’s involvement would be the icing on the cake.