What's happened
Grand Slam Track, a league founded by Olympic gold medalist Michael Johnson, filed for bankruptcy owing over $40 million. Key athletes and stakeholders, including Olympians and Johnson himself, are owed millions. World Athletics opposes the league's planned restart until debts are settled, raising concerns about athlete payments and league credibility.
What's behind the headline?
The bankruptcy of Grand Slam Track exposes the risks of new ventures in professional athletics driven by high promises but lacking sustainable financial backing. The league's failure highlights the importance of financial due diligence and the potential consequences for athletes who rely on prize money and sponsorships for their livelihoods. World Athletics' stance underscores the need for accountability and fair treatment of athletes, especially when leagues outside the traditional governing bodies operate without financial safeguards. The situation foreshadows increased scrutiny of emerging sports leagues and the necessity for transparent financial practices to protect athletes and stakeholders. The planned restart, contingent on debt settlement, will likely face legal and reputational hurdles, and its success depends on resolving these financial disputes swiftly.
What the papers say
AP News reports that World Athletics supports the current stance of not endorsing the league's restart until debts are paid, emphasizing the importance of fair treatment for athletes and vendors. The Independent provides detailed insights into the league's financial struggles, including debts owed to Olympic champions and the league's founder, Michael Johnson. Both sources highlight the league's ambitious promises contrasted with its financial collapse, illustrating the risks faced by athletes like Eric Edwards Jr., who rely heavily on prize money. The articles collectively underscore the broader implications for athlete rights and the integrity of emerging sports ventures, with AP News emphasizing the legal proceedings scheduled for Wednesday and the ongoing bankruptcy case.
How we got here
Grand Slam Track was launched by Michael Johnson with promises of high earnings for athletes and innovative events. However, the league quickly faced financial difficulties, with reports of unpaid athletes and vendors emerging early in its operation. The league's bankruptcy filings reveal debts exceeding $40 million, including significant amounts owed to top athletes and Johnson himself. Despite support from World Athletics, the league's financial instability has halted its plans to resume in 2026.
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Grand Slam Track is a professional track and field league, first announced in 2024 by American former Olympic champion sprinter Michael Johnson. The first season ran from April to June 2025.
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