Music
Rex Features
The singer's manager recently denied claims that she will be performing at the event to make up for her disastrous comeback last year.
However, Us Weekly reports that she is eager to present an award with Phelps, who won eight gold medals at the Beijing Olympics.
An insider told the publication: "She hopes to share the stage with Michael Phelps."
The MTV Video Music Awards take place on September 7. Spears is nominated for best female, while her song 'Piece Of Me' is up for the best pop video.
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