Grand Slam Track Bankruptcy: Why Michael Johnson’s League Failed and What’s Next
Photo: 2025 Miami Grand Slam / Wikimedia Commons / CC BY-SA 4.0
The 2025 track and field season began with bold promises. Former Olympic great Michael Johnson launched Grand Slam Track (GST), a new professional league designed to offer athletes year‑round competition and high prize money. But in December 2025, after a tumultuous inaugural season, GST filed for Chapter 11 bankruptcy in Delaware as it struggled to meet obligations to athletes, vendors and investors. Grand Slam Track+1
Ambition Meets Economic Reality
From its earliest announcements, GST was framed as a game‑changer for professional track and field. Johnson and league organizers touted over $30 million in initial funding commitments to support elite competition and generous prize pools (including promises of $100,000 per event). Wikipedia+1
But those commitments did not translate to cash flows. After early meets in Kingston, Jamaica, Miami, and Philadelphia, a key investor withdrew crucial backing, triggering a major liquidity shortfall that GST struggled to overcome. Wikipedia
By the time of the bankruptcy filing, GST reported between $10 million and $50 million in liabilities and 200–999 creditors listed — far outpacing its ability to pay. Initial filings showed extremely limited liquid assets, though later estimates adjusted those figures slightly upward. ESPN+1
Unlike a Chapter 7 liquidation, the Chapter 11 filing is a court‑supervised reorganization, meaning GST intends to stabilize and restructure rather than immediately shut down. Grand Slam Track
Mounting Debts to Athletes and Vendors
Bankruptcy filings reveal that GST owes millions to top athletes in unpaid prize money and appearance fees. Among the largest unsecured claims:
Athletes owed:
Sydney McLaughlin‑Levrone: $356,250
Gabby Thomas: $249,375
Kenny Bednarek: $225,000
Josh Kerr: $218,750
Marileidy Paulino: $211,875
Alison Dos Santos & Melissa Jefferson‑Wooden: $190,625 each ESPN+1
The organization also owes millions to business partners and vendors. The largest single creditor is Momentum‑CHP Partnership, a TV production partner owed over $3 million, followed by technology and services firms. ESPN
According to GST’s own news release on the reorganization, the league is finalizing debtor‑in‑possession financing as part of the Chapter 11 process to address outstanding liabilities while maintaining operations. Grand Slam Track
A League on the Brink
GST’s struggles echoed frustrations that emerged publicly as early as mid‑season. In August 2025, Johnson acknowledged that the league was having trouble paying athletes on schedule and stated that a 2026 season would not proceed until those debts were cleared. LetsRun.com
The abrupt cancellation of the final scheduled event in Los Angeles underscored these challenges and marked a premature end to the first season. Sky Sports
What Governing Bodies Are Saying
World Athletics President Sebastian Coe has indicated that even if GST resolves its financial issues, the league may not be authorized to return in 2026 without a “sustainable, solid financial model executed and delivered on behalf of the athletes.” Athletics Weekly
This statement reflects broader skepticism among sport governing bodies about the viability of rival leagues without deep commercial foundations.
The Road Ahead for Track in 2026
With GST’s future uncertain, the Wanda Diamond League is expected to remain the primary global circuit in 2026, offering stable competition and established commercial partnerships to elite athletes. (Confirmed dates below are independent global calendar events.)
Major Track Dates in 2026
World Athletics Indoor Championships (Toruń, Poland): Mar 20–22, 2026
Wanda Diamond League Opener (Doha, Qatar): May 8, 2026
Commonwealth Games (Glasgow, Scotland): Jul 23 – Aug 2, 2026
European Athletics Championships (Birmingham, UK): Aug 10–16, 2026
Diamond League Final (Brussels, Belgium): Sept 4–5, 2026
Final Verdict
Grand Slam Track’s collapse illustrates the complexities of professionalizing track and field. Despite high ambitions and a prominent founder in Michael Johnson, the venture’s financial model could not withstand the realities of commercial sport, leaving athletes and partners in limbo.
While GST continues in Chapter 11 and professes intentions to reorganize and return, its trajectory underscores a key takeaway: in elite sport, lofty promises must be built on solid financial infrastructure — or else athletes bear the risk.