By Ian Burnett
(Source: CNW)
Grand Slam Track, the ambitious professional league spearheaded by Olympic sprint legend Michael Johnson, has filed for bankruptcy protection after canceling its final scheduled meet and failing to meet payment obligations to athletes and vendors.
The Chapter 11 filing, submitted Thursday in U.S. Bankruptcy Court in Delaware, confirms a dramatic reversal for a venture that launched with bold promises of six-figure prize money and a reimagined future for track and field.
From US$30 million promise to barely five figures
At its inception, Johnson publicly touted a US$30 million financial foundation designed to stabilize the league and attract the sport’s elite. Court documents now paint a starkly different picture.
In its filing, Grand Slam Track disclosed that it has less than US$50,000 in cash on hand, between 200 and 999 creditors, and liabilities estimated between US$10 million and US$50 million.
Johnson refuses to abandon the project
Despite the sobering financial disclosures, Johnson struck a defiant tone in a news release announcing the bankruptcy proceedings.
“I refuse to give up on the mission of Grand Slam Track and the future we are building together,” Johnson said.
The filing represents not an end, he insists, but a restructuring effort aimed at preserving the league’s long-term vision.
Big names, big expectations
Grand Slam Track entered the sport with immediate credibility, signing some of the most recognizable names in global athletics. World champions Sydney McLaughlin-Levrone, Anna Hall, and Melissa Jefferson-Wooden were among the stars who committed to the project, lending legitimacy to Johnson’s goal of keeping track and field relevant beyond Olympic years.
That promise, however, has been undermined by mounting financial instability.
Unpaid athletes and vendors signal trouble
Concerns over the league’s finances became public in October, when The Athletic reported that several top athletes were still owed six-figure sums. Vendors, meanwhile, were presented with a stark choice: accept 50 percent of what they were owed or risk the league filing for bankruptcy.
Many declined the offer, further accelerating the league’s downward spiral.
The league’s struggles crystallized in June, when Grand Slam Track abruptly canceled its Los Angeles meet, the fourth and final event scheduled for its inaugural season. The cancellation effectively ended the league’s debut campaign and foreshadowed the bankruptcy filing that followed months later.
A rebuild, not a goodbye
In its official statement, Grand Slam Track described the Chapter 11 process as a pathway forward rather than a surrender.
The reorganization, the league said, will provide “the ability to return for future seasons and pursue new initiatives, including through the expansion of participatory events, enhanced media offerings, and deeper connections with the global running community.”
Whether that vision can be revived remains uncertain, but for now, Grand Slam Track’s grand experiment has shifted from the track to the courtroom.
