The development of athlete leaders is a multifaceted process. In this study, the experiences of athlete leader development were explored using a multi-perspectival, interpretative phenomenological analysis. Two basketball teams and one soccer team participated in this study. The players on each team identified their leaders using a questionnaire, and these identified leaders (n = 10), their teammates (n = 6), and their head coaches (n = 3) participated in semi-structured interviews, after which an iterative and inductive approach was taken to analyze the data. Results were organized into two general categories: (a) elements involved in the process of athlete leader development, and (b) leadership skills to be developed in athlete leaders. Findings showed that experiencing challenges, such as playing in different levels, positions, and roles, and making decisions on one’s own facilitates athlete leader development. Additionally, an environment that provides the opportunities for feedback and support from others, and individual factors such as competitive skills, the ability to manage emotions, and diligence emerged as elements that assist athletes to develop into leaders. Interpersonal, team management, and visioning skills were further identified as leadership skills that need to be developed for effective athlete leaders. The results inform athlete leader development theory and suggest that athletes require certain experiences to develop as leaders; with consideration of individual differences, the systematic provision of such experiences could facilitate this development. Lay summary: In this study, the development of athlete leaders is examined through the lenses of athlete leaders, their coaches, and their teammates. The findings show that athletes need certain challenges to develop as leaders. Additionally, they need an environment that provides them with quality support and feedback. Implications for practice Athletes need to be challenged and provided with feedback and support to develop as leaders. Coaches need to provide athletes with an environment that focuses on growth and personal development, where all athletes have the opportunities to assume leadership roles, and where appropriate role models are present. Strategies to develop leaders should include athlete leadership skills training that focuses on interpersonal, team management, and visioning skills.