12/12/25 09:50:00
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12/12 09:49 CST Owing more between $10M and $50M, Grand Slam Track files for
bankruptcy; Johnson vows to press on
Owing more between $10M and $50M, Grand Slam Track files for bankruptcy;
Johnson vows to press on
By EDDIE PELLS
AP National Writer
Grand Slam Track, the league fronted by sprint great Michael Johnson that
offered six-figure prize money for top runners, has filed for bankruptcy after
canceling its final event and failing to pay athletes and vendors.
Johnson boasted a $30 million bankroll at the outset, but in its Chapter 11
filing Thursday in Bankruptcy Court in Delaware, the league said it had less
than $50,000 cash on hand, between 200 and 999 creditors and owes between $10
million and $50 million.
It marks the latest chapter in a stunning fall for a league that signed some of
the sport's biggest stars --- including world champions Sydney
McLaughlin-Levrone, Anna Hall and Melissa Jefferson-Wooden --- with a vision of
reimagining the sport and keeping it on TV and in the headlines in non-Olympic
years.
The Athletic reported in October that many of the top athletes were still owed
six-figure sums, while vendors had largely rejected an offer from the league to
accept an offer of 50% of what was owed to them or risk the league going into
bankruptcy.
In a news release announcing the bankruptcy filing, Johnson said: "I refuse to
give up on the mission of Grand Slam Track and the future we are building
together."
The league's troubles came into sharp focus in June when it canceled its meet
in Los Angeles, the last of four scheduled events it set up for its opening
season.
In its release, the league said the reorganization will give it "the ability to
return for future seasons and pursue new initiatives --- including through the
expansion of participatory events, enhanced media offerings, and deeper
connections with the global running community."
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