Grand Slam Track files for bankruptcy; Johnson vows to press on
ESPN • • sports
Key Points:
- Grand Slam Track, a league founded by Michael Johnson offering six-figure prizes to top sprinters, has filed for Chapter 11 bankruptcy after canceling its final event and failing to pay athletes and vendors.
- Despite an initial $30 million bankroll, the league reported having less than $50,000 in cash and owes between $10 million and $50 million to 200-999 creditors.
- The league had signed high-profile athletes like Sydney McLaughlin-Levrone, Anna Hall, and Melissa Jefferson-Wooden, aiming to keep track and field prominent outside Olympic years.
- Reports revealed many top athletes were still owed six-figure sums, and vendors largely rejected a 50% payment offer before the bankruptcy filing
