What's happened
Grand Slam Track, a sports league founded by Michael Johnson, filed for Chapter 11 bankruptcy with liabilities between $10 million and $50 million. Once boasting top athletes and a $30 million bankroll, it now reports less than $50,000 cash on hand and aims to reorganize for future seasons.
What's behind the headline?
The bankruptcy of Grand Slam Track highlights the risks of sports startups heavily reliant on initial funding and star power. Despite signing top athletes like Sydney McLaughlin-Levrone, the league's financial instability suggests that even high-profile endorsements cannot guarantee sustainability. The league's attempt to reimagine track and field outside traditional Olympic frameworks faced operational and financial hurdles, ultimately leading to insolvency. This case underscores the importance of solid financial planning and diversified revenue streams in sports ventures. The reorganization aims to allow the league to return, but its future remains uncertain, and the current failure may serve as a cautionary tale for similar startups.
What the papers say
AP News reports that the league's liabilities are between $10 million and $50 million, with less than $50,000 cash on hand, and it owes significant sums to athletes and creditors. The Independent highlights the league's initial $30 million bankroll and its rapid decline, emphasizing the financial mismanagement and rejection from vendors. Both sources agree that despite high-profile signings, the league's financial model was unsustainable, and its bankruptcy marks a significant setback for innovative sports leagues attempting to operate outside traditional structures.
How we got here
Founded by Olympic champion Michael Johnson, Grand Slam Track aimed to revolutionize track and field by signing top athletes and offering prize money outside Olympic standards. The league faced financial difficulties, canceled its last event in Los Angeles, and struggled to pay athletes and vendors, leading to its bankruptcy filing in December 2025.
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Grand Slam Track was announced in 2024 by American former Olympic champion sprinter Michael Johnson. The first season is due to run from April - September 2025. After being initially announced in February 2024, the name of the league and other details...