Grand Slam Track files for bankruptcy

GST founder Michael Johnson says he “refuses to give up on Grand Slam Track’s mission and the future we are building together.”

Grand Slam Track, the professional track league that promised to revolutionize the sport, has filed for bankruptcy in the US.

It follows a disastrous inaugural season in which the fourth and final event in 2025, in Los Angeles in June, was canceled due to cash flow issues and poor crowds at the first three events.

58-year-old Johnson said. “The Grand Slam circuit was created to create a professional platform that reflects the talent and dedication of the athletes in this sport. While GST has faced significant challenges that have caused frustration for many, including myself, I refuse to give up on the Grand Slam track mission and the future we are building together.”

The Grand Slam originally claimed to have $30 million in funding, but the league soon ran into financial problems and was unable to pay athletes and vendors.

In October, it distributed $5.5 million to the athletes, about half of what they were owed, but large debts remained.

In a statement Thursday (Dec. 11), Grand Slam Track announced a “comprehensive restructuring to position the league for sustainable long-term growth.

“To facilitate the reorganization, GST has voluntarily filed for Chapter 11 in the US Bankruptcy Court for the District of Delaware. GST intends to use the Chapter 11 process to stabilize its finances, implement a more efficient cost and operating model, and position GST for long-term success.”

GST added. “Earlier this year, when committed funding fell through, GST, in consultation with its advisors, undertook extensive efforts to address its liquidity challenges and sought to negotiate payment arrangements that would provide significant recovery to stakeholders. However, a controlled restructuring of the court was seen as the most sensible way forward.

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“With a protected financial profile, the League will have the opportunity to return to future seasons and pursue new initiatives, including expanding participation events, expanding media offerings and deepening ties with the global governing community, ultimately aiming to realize its vision of transforming track into a unified, globally commercialized sport.”

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“These steps will allow GST to address its outstanding liabilities while continuing constructive discussions with interested investors. Ultimately, the goal of the reorganization is to create a more efficient operating structure, improve athlete and partner relations, and provide the league with a platform for future success.”

Ironically, it has been nearly 30 years since Johnson himself boycotted competitive events in the UK after British Athletics went bankrupt and was unable to pay him for the 1997 London race.