Michael Johnson’s Grand Slam Track Files for Bankruptcy

Grand Slam Track, a global professional track competition launched by four-time Olympic champion Michael Johnson last year, has voluntarily filed for bankruptcy in the United States.

It comes after the final event of the competition’s first season was cancelled back in June – one year after its original launch – due to economic concerns.

Those concerns had intensified after a prospective investment round was withdrawn earlier in the year.

GST organizers said that, despite exploring alternative options, they were moving towards a “court-supervised reorganization.”

“GST intends to utilize the Chapter 11 (bankruptcy) process to stabilize its finances, implement a more efficient cost and operating model, and position GST for long-term success,” read a statement by GST. Earlier this year after committed financing fell through, GST undertook extensive efforts, in consultation with its advisors, to address its liquidity challenges and sought to negotiate payment arrangements that would provide a meaningful recovery to stakeholders.

“However, a court-supervised reorganization was deemed the most prudent path forward as these efforts continue.”

Chapter 11 is a form of reorganization bankruptcy that enables businesses or individuals to restructure their debts and obligations while remaining in operation, with the aim to return to profitability.

Johnson said that he would “refuse to give up on the mission of Grand Slam Track” despite facing “significant challenges.” Event organizers backed up those claims, saying that the voluntary bankruptcy filing was not “a desertion of our long-term vision.”

Grand Slam Track Format and Prize Money

GST held four events around the world, with a prize pool of $12.6 million. Its inaugural event took place in Kingston, Jamaica, in April, ahead of competitions in Miami and Philadelphia in May, before the Los Angeles event in June was cancelled.

Each year, 48 athletes were named to the league as GST Racers, and they committed to racing in all four Slams per year. The remaining 48 racers were known as GST Challengers and were due to be paid a set appearance fee to compete at individual Slams.

Male and female competitors were subdivided into six different categories, with each one containing eight athletes. With a focus on head-to-head competition, the racers would compete twice over a three-day event and all Slam events in line with World Athletics regulations, and their marks would count towards rankings and standards.

The winner of each Slam race category could take home up to $100,000 in prize money, and the $12.6 million total prize money would be distributed across the events each year.

Meanwhile, World Athletics has launched a new competition of its own called “Ultimate Championship,” which will debut in Budapest, Hungary in September 2026. The competition will feature a prize pool of $10 million for previous Olympic champions, world champions and Diamond League winners, including Noah Lyles, Gabrielle Thomas and Sydney McLaughlin-Levrone.