Grand Slam Track, the ambitious professional track and field series founded by Olympic legend Michael Johnson, filed for bankruptcy after a first season troubled by financial turmoil and cancelled events. The league that promised to fix the financial issue in the sport now sees itself drowning in over $31.4 million in debt.

As reported by A Mile A Minute from a recent bankruptcy meeting on Wednesday, Grand Slam Track’s operational bank account only has $7,300 in it. And the raw numbers paint a distressful picture for the league’s future. With over $31.4 million in debt, they owe more than 340 creditors, ranging from star athletes to companies.

The largest creditor, the investment group Winners Alliance, is itself owed over $11 million and has become the league’s financial lifeline. In the court-mandated bankruptcy meeting, creditors questioned how any new funding would be spent, revealing a proposed budget that has raised eyebrows.

League representative from Force 10 Partners, Nicholas Rubin, confirmed an expected $1 million infusion but outlined plans to allocate $100,000 to marketing, $120,000 to additional payroll, and $50,000 in consultancy fees. Mark Fulton, the representative for unsecured creditors, pointedly asked for clarification on who would receive these funds.

“For this to succeed going forward, you need the support of the very people that you’ve seemed to have cast aside. The athletes, the vendors — we seemed to be cast aside. It’s really important that you’re very clear with the questions that we’ve asked and you’re very clear with the answers you give to us as well,” Fulton said.

Most strikingly, Rubin stated that $400,000 would be earmarked for new athlete contracts as a means to encourage athletes to join the league even as bankruptcy proceedings continue. However, even if Michael Johnson’s Grand Slam Track has a potential return, this won’t be that easy due to World Athletics’ president’s latest comments.

More hurdles have been set for Michael Johnson’s Grand Slam Track

Grand Slam Track became one of the most hyped track events when it was first announced. Promises were made, star athletes like Sydney McLaughlin-Levrone, Kenny Bednarek, Fred Kerley, Gabby Thomas, and many more were chosen to attract a ton of fans. However, the cracks formed, and by early December 2025, the league filed for Chapter 11 bankruptcy.

Watching everything going down, World Athletics president Sebastian Coe delivered a serious message, saying, “We welcome innovation into the sport. We welcome fresh investment. but it has to be underpinned by a sustainable, solid financial model executed and delivered on behalf of the athletes.” Professional sports are no joke, and Coe was quite stern about the situation that unfolded with Johnson’s track event.

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“We create the calendar. We have to police the calendar. And we have to make sure that when there are fresh events, that they come to the table with the kind of credentials and assets that I talked about. Over the next few years, there are going to be lots of different and new things and I welcome that. But it has to be suffused in a realistic proposition that is fireproof. It’s got to be sustainable,” Coe said, making himself very clear.

So, only time will tell if 2026 will bring anything new for Grand Slam Track, and if the event will live to see its second edition.