Abstract: An athletic equipment drying rack comprises a leg assembly which is operable between an open freestanding condition and a relatively more compact closed condition, and a torso assembly adjustably connected to the leg assembly. The torso assembly includes a transversely extending shoulder member, a pair of foldable arms, and a helmet member vertically extendable from the shoulder member. In a first embodiment, the torso assembly is pivotally connected to the leg assembly by a hinge for folding along a transversely extending axis between a drying position and a storage position. In a second embodiment, the torso assembly is connected to the leg assembly by a pair of vertical side rails engaging a transversely extending upper member of the leg assembly, whereby the torso assembly may be moved vertically relative to the leg assembly between a drying position and a storage position.