Excel VBA - Making a stopwatch (with milliseconds) that can show a running clock time

I have read a number of posts online relating to the making of a stopwatch in VBA.  I have been able to make the foundation of what i am looking for and i am now trying to tidy it up.
I am looking for suggestions of how i can make a cell show a running clock (the elapsed time).  The stopwatch will be used to time cyclists on a velodrome so they may do 40 or 50 laps (and there will be 4 or 5 riders at once on the track).  I will make a button for each rider which populates a specific column with split times.

Here is my code for the macro that adds a split time to the list.
Sub Athlete1Split()

ActiveSheet.Range("B58").End(xlUp).Offset(1, 0).Select

ActiveCell.Value = Format(Time, "hh:mm:ss:" & Right(Format(Timer, "#0.00"), 2))

End Sub
Stopwatch.xlsm
JohnNZExcelAsked:
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suvmitraCommented:
You may consider looking at the sample file where you can see a running clock with elapsed time.
StopWatchEx.xls
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dmitry_nCommented:
Do these runners share the same clock or do have individual counters?
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JohnNZExcelAuthor Commented:
Good question.  I will make a single clock that will be used for all.  The start button will start the clock for all athletes but then individual buttons for each athlete will record the split times.
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dmitry_nCommented:
Try http://www.xnotestopwath.com It also allows external IR sensor.
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