Grand Slam Track has filed for Chapter 11 bankruptcy protection, revealing debts exceeding $40 million and assets totaling less than $1 million. The league, under the leadership of Michael Johnson, a four-time Olympic gold-medalist sprinter acting as the commissioner, aimed to elevate track athletes to professional status and transform the track industry by signing 48 of the world’s top athletes for four events with a prize pool of $12.6 million.
Despite plans for events in Kingston, Jamaica, Miami, and Philadelphia, only three events took place before the final meet in Los Angeles was canceled. Grand Slam Track reported revenue of just $1.8 million last year, leading to delays in distributing promised payments to athletes.
Among the athletes owed money in the bankruptcy filing are hurdler Sydney McLaughlin-Levrone ($268,750), 100-meter champion Kenny Bednarek ($195,000), and 200-meter gold medalist Gabby Thomas ($185,625). Johnson is also listed as being owed over $2.4 million after contributing $2.25 million in 2025 to support the Philadelphia event.
The bankruptcy filing outlines a total liability of $40,679,508.68 owed to 340 creditors, with assets valued at $831,385.46 categorized as personal property. While Grand Slam Track had touted over $30 million in financial commitments from investors and partners in a 2024 press release, reports indicate it only received $13 million from its main investor, Winners Alliance, with a potential additional investment of $19 million later on.