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In the bold tradition of attempting to turn famous athletes into sketch comedy stars, OK! has learned that Michael Phelps, who earned a record-breaking eight gold medals at the recently concluded Summer Olympics in Beijing, will be playing host on the season premiere of Saturday Night Live.

According to a show insider, the 23-year-old swimmer will attempt to spin his gold into laughs in front of a live audience during the Sept. 13 season premiere of the long-running NBC comedy show.

Slated to appear as the musical guest on the opening episode of SNL’s 34th season is rapper Lil Wayne. However, that spot may be up in the air after Wayne missed an Arizona court date Tuesday morning to answer for drug-related charges.

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