It was supposed to be Michael Johnson’s legacy, his great dream to revolutionise the way the world would see athletics in the modern age. Instead, Grand Slam Track (GST) fell hard, filed for bankruptcy and left athletes chasing unpaid money. It then went from bad to worse as a legal filing accused the four-time Olympic champion of secretly paying himself. Now, Johnson is ready to explain exactly what that money was.

As it turns out, GST did make a payment to Johnson. However, not for the reasons people thought. Instead, it was merely the company paying him back after he had put several hotel rooms for athletes on his own personal credit card.

“So that was reimbursement,” Johnson told Telegraph Sport. “You know, it was disappointing that that got way more headline than, yeah, I also am gonna loan the company $2 million of my own money to make sure that we can continue to have these athletes taken care of.

“I’m gonna forgo my own salary, which I did, to make sure that this gets done. But no, that’s part of it. That was the reimbursement for me handling the travel.”

The incident occurred after Eldridge and Todd Boehly, key investors in GST, backed out, leaving the venture reeling. So much so that, despite all the hype and the presence of Olympic superstars like Gabby Thomas, GST folded. However, they organized three somewhat successful meets before cancelling the LA finale.

Not just that, GST and Johnson were struggling to pay athletes their back pay, which forced the 58-year-old’s hand. It was the result he never wanted, and the company eventually filed for bankruptcy. It came after a serious hit to Johnson and GST’s reputation, as the athletes issued pleas on social media for their money.

“They wanted to be treated as the professionals they were, and I always felt that was something they deserved,” Johnson revealed. “But having built this for them, for this purpose, I was in a situation where I didn’t know how I was going to get them paid. It was up to me, and only me, to get it done. Nobody was coming to help.”

In January 2026, The Athletic reported that GST owed well over $40 million, with a significant portion of it in back pay to athletes. The report indicated that GST owed McLaughlin-Levrone over $260,000, Kenny Bednarek over $190,000, and Thomas over $180,000. The list went on and on, with 340 creditors “collectively owed tens of millions of dollars”.

Michael Johnson confirmed that, as of August 2026, Johnson says that outstanding athlete payments have now been made.

“What was going to matter was what I did, and that’s what I’ve been focusing on for the past year,” the Olympic icon added. “I’ve got the athletes paid, I’ve got this back to neutral. So now I can speak.” 

The £372,000 reimbursement may have become one of the loudest stories surrounding Grand Slam Track’s collapse. However, Johnson’s explanation puts it alongside a far larger financial commitment he made to keep the company and its athletes afloat.