Despite the plot revolving around romantic attractions between various teenage boys and girls, their sexual lives remain unexplored.
The closest thing to sexual content is a very subtle masturbation reference - a swimming coach ties a red string to the little finger of her charge's hand to remind him whenever he thinks of his chosen girl what his real priority (swimming) should be. Later in the letter he mentions "I saw the red string three times today."
Several scenes with the male protagonist wearing skin revealing tank top and shorts and quite a lot of scenes with him (and sometimes his rivals) wearing nothing than tiny speedo swimsuit.
A teenage boy admits to his friends that he's still a virgin. One of them says "It's OK, nobody is forcing you."
A jealous female friend of the protagonist puts his hand on her breast (clothed) and wants to know whether he touched his love interest like that.