Grand Slam Track (GST), which has filed for Chapter 11 bankruptcy protection, is struggling with millions of dollars in outstanding debts to athletes and vendors.
GST, founded by Olympic legend Michael Johnson in 2024, aimed to revolutionize the professional track and field landscape.
The league has been unable to secure the necessary funding to meet its financial obligations. In October, it managed to pay athletes only half of the money they were owed and attempted to negotiate payment plans with its vendors. But these negotiations were stalled after several vendors rejected Grand Slam Track’s proposal.
In a press release, Grand Slam Track announced its intention to utilize the Chapter 11 reorganization process to secure the league’s future, and hopes the filing will “stabilize its finances, implement a more efficient cost and operating model, and position GST for long-term success.”
However, despite this setback, Michael Johnson remains committed to his vision for the league.
“Grand Slam Track was founded to create a professional platform that reflects the talent and dedication of this sport’s athletes,” Johnson said in a statement.
Sydney McLaughlin-Levrone, Gabby Thomas, Melissa Jefferson-Wooden, and four other Olympic medalists are among those owed six-figure sums by Grand Slam Track.
McLaughlin-Levrone, the four-time Olympic champion and world record holder in the 400-meter hurdles, owed US$365,250, the fifth-highest amount on the list.
Others include Kenny Bednarek, Josh Kerr, Marileidy Paulino, and Alison Dos Santos. Jefferson-Wooden and Dos Santos were each owed US$190,625. The rest were owed between US$211,000 and US$250,000.
The organisation stated that it owed between US$10 million and US$50 million to between 200 and 999 creditors, with the largest sum, US$3.036 million, due to Momentum-CHP Partnership, a joint venture established for the league’s TV productions.
“With a rightsized financial profile, the League will have the ability to return for future seasons and pursue new initiatives,” GST said in a recent news release.
