Psychological safety is a concept of considerable interest in sport. However, varying conceptualizations and definitions often present conflicting meaning. Recent literature has questioned the transferability of the performance-based dimensions of psychological safety to high performance and selective sport settings. While athletes need to make errors to learn, they must also perform in environments where errors are consequential. In this article, we address critiques of the transferability of psychological safety to high-performance and selective sport contexts, whilst acknowledging the essence of psychological safety as having value for sporting contexts. To contribute constructively, we expand on the “dual effect” of psychological safety and its impact on voice behavior and the perceived consequences of errors. We propose a theoretical adaptation using the concept of Performance Safety: a temporally dynamic perception emerging from individual–environment interactions, specifically concerning the perceived consequences of error. By introducing this differentiation, we aim to distinguish between the ability to express oneself verbally and the implications of performance-based consequences. Lay Summary In this article, we suggest a theoretical adaptation to enable transferability of psychological safety to high-performance and selective sport. We introduce the differential concept Performance Safety as a time bound perception concerning perceptions of consequence from error, to delineate between speaking up and perceptions of consequence from error. IMPLICATIONS FOR PRACTICE Athletes require errors to learn, however they perform in environments where errors carry significant consequences. The article addresses concerns regarding the transferability of psychological safety to high-performance and selective sport settings. Separating a climate of voice from the ability to make errors, we suggest Performance Safety as a temporally dynamic perception emerging from individual-environment interactions, specifically concerning perceptions of consequence from error. We suggest that coaches, psychologists, and athletes deliberately manipulate perceptions of performance safety to optimize skill learning and preparation for competition.