Grand Slam Track Files for Chapter 11 Bankruptcy Amid Financial Struggles

Grand Slam Track (GST), the professional track and field league founded by Olympic champion Michael Johnson, has filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware. The filing, submitted on December 11, 2025, indicates the league holds assets under $50,000 and liabilities ranging between $10 million and $50 million.

Launched in 2024 with a $30 million budget, GST aimed to revolutionize track and field by offering substantial prize money and consistent media coverage. The inaugural season in 2025 featured events in Kingston, Miami, and Philadelphia. However, financial difficulties led to the cancellation of the final event in Los Angeles.

The league's financial troubles became evident when it failed to pay athletes and vendors. Many top athletes were owed six-figure sums, and vendors largely rejected an offer to accept 50% of what was owed to them or risk the league going into bankruptcy.

In its Chapter 11 filing, GST stated it had less than $50,000 cash on hand, between 200 and 999 creditors, and owed between $10 million and $50 million.

Despite the financial collapse, Michael Johnson remains committed to the league's mission. In a news release announcing the bankruptcy filing, Johnson stated, "I refuse to give up on the mission of Grand Slam Track and the future we are building together."

The bankruptcy filing has significant implications for athletes and vendors associated with GST. Many athletes are still owed substantial sums, and vendors have been left unpaid. The league's financial instability has raised concerns about the viability of professional track and field leagues and the financial security of athletes and service providers.

GST intends to utilize the Chapter 11 process to stabilize its finances, implement a more efficient cost and operating model, and position the league for long-term success. The league plans to return for future seasons and pursue new initiatives, including the expansion of participatory events, enhanced media offerings, and deeper connections with the global running community.

The bankruptcy filing of Grand Slam Track highlights the financial challenges faced by new professional sports leagues. While the league's future remains uncertain, Michael Johnson's commitment to GST's mission suggests efforts will continue to revitalize and sustain the league in the coming years.