Four-time Olympic champion Michael Johnson says athletes owed money following the collapse of his Grand Slam Track league have now been paid, addressing months of financial turmoil and public scrutiny after the venture filed for bankruptcy in December 2025.
The ambitious attempt to reshape professional track and field faced a steep descent after launching in 2024. Contracted runners had been promised lucrative appearance fees and prize money for the inaugural 2025 season, but the league ran headlong into a catastrophic capital issue
when investors pulled out. The resulting cash-flow squeeze forced organisers to cancel the scheduled June 2025 season finale in Los Angeles and place the 2026 season on indefinite suspension by August 2025.
The financial distress quickly compounded. According to the Association of Athletics Managers, which represents a number of competing runners, Grand Slam Track accumulated debts exceeding $30m (£22.5m). Several high-profile competitors—including British former world 1500m champion Josh Kerr and 2024 Olympic 400m silver medallist Matthew Hudson-Smith—found themselves owed sums exceeding £100,000 as the league’s payment timelines collapsed.
Clearing Debts and Confronting Accusations
As the crisis deepened, the league sought Chapter 11 bankruptcy protection in Delaware in December 2025 to stabilise operations and reduce costs. Yet the legal fallout brought even sharper personal attacks. In March 2026, a legal filing by the league’s creditors accused Johnson of secretly
paying himself $500,000 (£375,000) just days before operations collapsed—an allegation that a league representative firmly rejected at the time as unfounded and false.
Speaking publicly for the first time since the bankruptcy, Johnson addressed the controversy directly in an interview, explaining the reality behind the credit card transactions and travel expenses that fueled the rumours.
“I’m happy to clear it up, because it’s the most hurtful thing and the exact opposite of what was reported. Our credit card was full at Grand Slam Track, because we were facing significant cash-flow issues. We had 96 athletes, plus companions, whom we needed to fly to Miami and Philadelphia. We had 170 people to house in hotels in both cities, and the credit card had no room left. I instructed our travel team to put it on my credit card, and I would be reimbursed for it. So, what I received was reimbursement. I also loaned the company $2m to make sure we took care of the athletes. I decided to forgo my own salary.”
Michael Johnson, via Telegraph
Johnson stated that he has now successfully ensured the athletes received their money, bringing a measure of relief to a period he described as intensely demanding. Alongside the business collapse, Johnson and his wife had been evacuated from their home due to Malibu fires at the start of 2025, forcing them to move through six different temporary residences while the league was attempting to launch.
Early Promise Versus Financial Reality
The turbulence stands in sharp contrast to the high-energy events held earlier in the venture’s lifecycle. During stopovers in Kingston, Jamaica, and later before a packed crowd in Miami, stars like Kenny Bednarek and Sydney McLaughlin-Levrone delivered dominant performances. Bednarek captured victories in the short sprints, reflecting on his form by stating, Jsem přesně tam, kde jsem chtěl být
and Letos budu dominovat
as reported by Czech television. McLaughlin-Levroneová similarly swept her events, including a 400m triumph in 49.69 seconds.
 "Photo: Pulse Sports Kenya")
However, attendance struggles in Kingston, paired with the subsequent cancellation of the Philadelphia event’s third day and the complete abandonment of the Los Angeles finale, proved insurmountable for the startup circuit’s high-spending model. The league had originally positioned itself as a direct challenger to the established Diamond League by offering outsized appearance fees.
Restructuring and the Path Ahead
With court supervision now guiding the process, chief restructuring officer Nicholas Rubin noted that the bankruptcy protection provides a framework to facilitate ongoing discussions with potential investors. The court-supervised path is designed to aid in rebuilding relationships with athletes and partners, even as the organisation attempts to recover from its inaugural season setbacks.
Reflecting on the toll the ordeal took on him, Johnson admitted to sleepless nights and moments of deep self-doubt while dealing with public headlines that questioned his integrity.
“Those things weighed on me very heavily, and on my family as well. I was asking myself: ‘Are you stupid? Why did you do this? This is not what you need.’ That was the most difficult part of this. Questioning my motivation for doing this, questioning my integrity, questioning my character.”
Michael Johnson, via Telegraph
Despite the severe financial wreckage of the debut year, organisers maintain an intention to return for a future season once outstanding liabilities are fully settled and investor discussions bear fruit.
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