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Track League's $40M Debt: Athletes Face Millions in Unpaid Dues
29 Jan
Summary
- Grand Slam Track owes $40.68 million against only $831,385 in assets.
- Top athletes like McLaughlin-Levrone are owed hundreds of thousands of dollars.
- The league's founders made personal sacrifices amid significant financial pressure.
Grand Slam Track (GST), a league founded by Michael Johnson aiming to revolutionize athletics, has filed for bankruptcy, exposing massive financial distress. As of January 29, 2026, the league reported debts totaling $40.68 million against assets valued at only $831,385. This financial collapse has left numerous elite athletes unpaid, with many owed five and six-figure sums. Sydney McLaughlin-Levrone is owed $268,750, and other stars like Kenny Bednarek and Gabby Thomas also face substantial outstanding payments.
The bankruptcy filings detail that over $640,000 has already been spent on legal and consulting fees related to the restructuring. The league's financial woes extend to numerous creditors, including production companies, construction firms, and marketing agencies, collectively owed tens of millions. Michael Johnson himself invested $2.25 million and is owed approximately $222,000 in unpaid wages, though he did receive a $500,000 repayment shortly before the league's final meet was cancelled.
GST launched in Spring 2025 with significant fanfare, promising athletes professional treatment and a $12.6 million prize pot. However, revenue in 2025 was only $1.8 million, indicating a failure to secure major sponsorships or media deals. Despite these challenges and a decision by investors like Eldridge not to proceed, GST did not inform athletes or vendors of their precarious financial situation. Founders, including Johnson and COO Steve Gera, forewent salaries starting in mid-April 2025, highlighting personal sacrifices amid the mounting pressure.
