Michael Phelps continues to collect gold medals like we collect parking tickets. After trailing in seventh place during the first 50m of the 100m butterfly, Phelps charged towards the finish line in what can be described as the most intense Olympic comeback victory ever. Phelps beat world-record holder Milorad Cavic by 1/100th of a second (50.58 to Cavic’s 50.59), stunning the California-born Serb and finally putting himself on the same pedestal as the great Mark Spitz. Now, he just needs to gain gold tonight in the 4X100 IM relay and he’ll be worshiped for the rest of time…or until some other dude smashes his records. The entire race, along with really excited commentators, is after the jump.

Because seven gold medals isn’t enough, Speedo gave Michael Phelps a $1million bonus for his feat.

Phelps wins 7th gold witn .01 to spare [NY Times]
Image [Getty]