Michael Phelps Promises To Retire After London 2012 Olympics

Michael Phelps will swim his last race in the London 2012 Olympics, and that's it. The world-record holder in the 100 and 200 meter butterfly reiterated on 60 minutes on Sunday he has no intention of doing a single competitive lap after the 2012 games, held from July 27-Aug. 12.

Once I retire, I'm retiring. I'm done, the 26-year-old told Anderson Cooper.

Phelps' mother Debbie took a playful shot at convincing her son to compete for the 2016 games in Rio, when Phelps would be 31.

C'mon Michael, just a 50 freestyle, she said. I've never been there before. (It should be noted Phelps has never done well in the 50 free).

Phelps is two medals shy of surpassing Soviet Union gymnast Larysa Latynina, who holds the record for most medals in summer Olympic games with 18.

If his performances in 2012 are any indication, he could easily surpass that record with his signature events, the 100 meter and 200 meter butterfly, as well as the 200 freestyle and 400 individual medley. Phelps won the events handily in March at the Indianapolis Grand Prix, a sort of precursor to the Olympics.

The swimmer and Subway spokesman should be a main attraction at the London games, after winning eight gold medals in eight events, setting world records in seven of them at 2008's Olympics in Beijing. The performance had some labeling him categorically the greatest Olympian of all time.

The months following Phelps' 2008 performance proved dicey, as a photo of him taking a bong rip surfaced on the internet, leading to a three-month suspension and loss of a sponsorship deal with Kellogg's.

Phelps currently holds six world records overall, three in individual events, the 100 meter and 200 meter butterfly and the 400 meter individual medley.

Check out the full 60 Minutes segment below: