Grand Slam Track has filed for Chapter 11 bankruptcy protection, revealing over $40 million in debts and less than $1 million in assets. The league, under the leadership of Michael Johnson, a four-time Olympic gold-medalist sprinter who serves as the commissioner, aimed to elevate track athletes to a professional level. They planned to revolutionize the track landscape by signing 48 of the world’s top athletes and hosting four events with a prize pool of $12.6 million.
However, only three events took place in Kingston, Jamaica, Miami, and Philadelphia, with the final meet in Los Angeles being canceled. The bankruptcy filing disclosed that Grand Slam Track generated $1.8 million in revenue last year, resulting in delayed payments to many athletes.
Among the athletes listed as creditors are Sydney McLaughlin-Levrone, owed $268,750, Kenny Bednarek, owed $195,000, and Gabby Thomas, owed $185,625. Additionally, Michael Johnson is owed over $2.4 million, having contributed $2.25 million in May 2025 to ensure the Philadelphia event proceeded as planned.
The bankruptcy filing reports a total of 340 creditors owed a combined amount exceeding $40 million, while the company’s assets are valued at $831,385.46, categorized as personal property. Despite claims of over $30 million in financial commitments from investors and partners in September 2024, Grand Slam Track reportedly only received $13 million from its primary investor, Winners Alliance, with an option for an additional $19 million investment.