Michael Phelps Ties Mark Spitz's Olympic record of Seven Medals. Goes For Number Eight on Sunday.

Michael Phelps Wins Number Seven! Winning by 1/100th of a second over Serbian Milorad Cavic, Michael Phelps ties Mark Spitz’s record and continues to advance his standing in the record books and his bank book (Speedo will give him a cool million for winning his 7th Gold).

Andrew Lauterstein of Australia came in third for the Bronze and Phelps’ Teammate Ian Crocker, the world record holder in 100m Butterfly placed 4th.

Although it was a very close race and Phelps did not finish in record time, it was still obvious that his hunger for the gold is still there as he continues to add to his collection of Gold Medals and his rise to the title of ’Greatest Olympian Ever’ as he continues on in his attempt to collect the most Gold Medals in a single Olympic Games.

The results were so close, in fact, that the Serbians filed a protest. After reviewing the tape down to 1/10000th of a second the judges ruling stood and the Serbian team conceded.

Mark Spitz commented that although swimming is technology driven, “If that suit had hair on it, Michael would set world records in it.” (Referring to the Speedo LZR Racer suit worn by Phelps and his teammates).

Phelps will prepare for his final race of the games on Sunday when he will swim the butterfly leg of the 400m Medley Relay which the US is favored to win.