The Opals qualified for the 2016 Olympics in Rio de Janeiro following a series win against New Zealand in August 2015. On 31 March 2016, Lauren Jackson announced her retirement from basketball, citing a chronic knee injury as the reason for her decision. The Olympic squad was announced on 12 July 2016 and included seven Olympic debutants and only three players from the 2012 squad. Notable exclusions included three-time Olympic medallist Suzy Batkovic, reigning WNBL MVP Abby Bishop and Rebecca Allen. Despite slow starts which had plagued Australia throughout the tournament, the Opals finished on top of their group with a 5–0 record, outscoring Japan 33–15 in the final quarter to win by six points. In the Quarter-final, the Opals suffered a shock 73–71 loss to Serbia, conceding 26 turnovers and eliminating them from medal contention. This ended a run of five successive Olympic medals dating back 20 years. One highlight was Liz Cambage breaking Lauren Jackson's Australian Olympic record of points scored in a single game with 37 against Japan. It was the third-highest haul by a woman in Olympic history and the highest in 28 years.