14-time Olympic gold medallist Michael Phelps is competing in Montreal this weekend at the Canada Cup.

Saturday morning he posted a time of under 52 seconds in a qualifying heat for the 100 metre Butterfly.

He did much better in the actual race, with a career best time of 50.48 seconds, improving his previous best of 50.58, and just missing the world record by 8/100ths of a second.

The next race for Phelps is Sunday, where he will compete in the 100 metre freestyle.

On Friday, Phelps was honoured at City Hall, where he was given commemorative coins from the 1976 Olympic Games.

"Hopefully I can see some more of the town this time I'm here," said Phelps.

"It's gonna be amazing this weekend and see if we can have some fast racing and go from there. "

Phelps' last visit to Montreal was in 2005, when the city hosted the FINA World Swimming Championship.

The Montreal meet is the final tune-up for Phelps before the U.S. championships to be held in Indianapolis early next month.

Last year, at the Beijing Olympics, Phelps won an astounding eight gold medals. He won six gold medals and two bronze competing in Athens in 2004.

He made headlines this year after a British tabloid published pictures of the athlete smoking marijuana.