Grand Slam Track, the professional track and field league that filed for bankruptcy late last year, spent $617,935 in January 2026 — more than half a million dollars in a single month while under court protection.
The figures come from a monthly financial statement filed with the U.S. Bankruptcy Court in Delaware, first reported by Rich Perelman at The Sports Examiner on March 3, 2026.
Where Did the Money Go?
The biggest chunk — $440,000 — went straight to the league’s legal team, the Los Angeles-based firm Levene, Neale, Bender, Yoo & Golubchik, held in escrow. Another $25,000 was paid to Freeman Advisors, a financial restructuring firm. Payroll and medical insurance for remaining staff accounted for nearly $90,000 more.
In short: lawyers, advisors, and keeping the lights on.
To cover these costs, Grand Slam Track drew $1 million from a $2.305 million emergency bankruptcy loan provided by Winners Alliance. The league’s total debt now stands at $41.68 million.
What Happens to the Athletes?
That is the question most runners and track fans are watching closely.
A proposed reorganization plan is set to go before the court at a hearing on March 12, 2026. Under that plan, athletes would recover roughly 85 cents on the dollar for what they are owed. Unsecured vendors and suppliers — think meet organizers, contractors, and service providers — would receive almost nothing.
For athletes who competed in Grand Slam Track events and are still waiting on payment, an 85% recovery would be a partial win. For everyone else in the supply chain, it’s close to a total loss.
A League That Never Quite Launched
Grand Slam Track was founded by Olympic gold medalist Michael Johnson with the goal of creating a sustainable, athlete-first professional track league. It attracted significant attention and some of the sport’s top names, but struggled to find financial footing.
The bankruptcy has raised uncomfortable questions about the viability of professional track and field as a business — and about what protections athletes have when a league collapses around them.
The March 12 hearing will be a turning point. If the reorganization plan is approved, it sets a timeline for creditors to receive what little they’re owed. If it’s challenged or rejected, the proceedings could drag on further — and the legal bills will keep climbing.
