As reported by Front Office Sports, Michael Johnson, the four-time Olympic gold medalist who founded Grand Slam Track, has been accused of quietly paying himself $500,000 just eight days before the league folded — while owing millions to athletes, vendors, and creditors.
The accusation comes from a group of unsecured creditors who filed legal documents at the US bankruptcy court for the district of Delaware on Wednesday, also seeking permission to sue Johnson and the league’s main investor, Winners Alliance.
Johnson was personally owed $2.2 million by Grand Slam Track. On June 4, with the league’s finances already in freefall, he allegedly had $500,000 transferred to himself.
“Mr Johnson elected to secretly prefer himself over the athletes and other, non-insider creditors, while at the same time feigning to the public that he was selflessly looking to advance the interests of the athletes.”
— Lawyers for the unsecured creditors committee
The filing also accuses Johnson of prioritizing payments to high-profile athletes — including British middle-distance star Josh Kerr — over smaller vendors, in an apparent attempt to limit reputational damage.
Grand Slam Track denied everything. Spokesperson Alex Tourk said the $500,000 was a partial reimbursement for expenses Johnson had personally covered, including athlete travel and accommodation. “It is unfortunate that the UCC chose to ignore facts and is instead attempting to discredit the company and Mr Johnson through false statements,” he said.
How Grand Slam Track Fell Apart
The league launched in early 2025 with real promise. Johnson billed it as a fix for professional athletics — better pay, bigger races, more exposure for track stars. Co-founder Steve Gera told The Independent weeks before the first meet: “We are maniacally focused on having the youngest fanbase of any sports league in the world in the next five years.”
It never got close. The opening meet in Jamaica drew thin crowds. A key sponsorship deal with Eldridge Industries — reportedly worth close to $40 million — fell through. The fourth meet in Los Angeles was cancelled outright. GST filed for bankruptcy in December with liabilities estimated between $10 million and $50 million, spread across more than 200 creditors.
The filing also alleges GST publicly claimed to have $30 million in secured funding when it had actually raised only $13 million. The Eldridge money was never contractually locked in — a fact that left a $40 million hole when the league collapsed.
Winners Alliance, the league’s primary backer, says it is owed more than $15 million and has called the creditors committee’s claims “fundamentally false.” World Athletics has also made clear it will not automatically greenlight any future version of the league, having already rejected a 50% repayment offer from GST.
The full list of what Grand Slam Track still owes athletes makes for sobering reading. And with the league continuing to burn through cash even after filing for bankruptcy, the legal battle between creditors, Johnson, and Winners Alliance looks set to run for some time yet.
