Clearwater’s Robert Margalis was once again in the worst possible position at the U.S. Olympic Swimming Trials: third place, just one spot away from making the Olympic team.

With Olympic star Michael Phelps and Ryan Lochte of Daytona Beach both swimming under the previous world record for the 400-meter individual medley, Margalis, a Clearwater High and University of Georgia product, wound up third at the Qwest Center in Omaha, Neb.

Phelps swam 4 minutes, 5.25 seconds to beat his previous WR of 4:06.22 and Lochte, who competed for the University of Florida, also eclipsed that mark at 4:06.08. At 4:13.85, Margalis swam just off his lifetime best for his third, third-place finish in three appearances at U.S. trials. In the 2000 trials, Margalis was third in two events, the 1,500 free and 400 freestyle.

It was another Olympic trials disappointment for Margalis, but his father, Bob Margalis, said his son wasn’t too upset.

“We talked to him face-to-face after the race and he’s fine,” Bob Margalis said. “He said it was an honor being part of a race where two people broke the world record. He’s OK. He’s the kind of kid who puts it behind him pretty quickly.”

Margalis is still expected to swim in the 200 freestyle (today), 200 butterfly, 200 IM and 1,500 free.