Michael Johnson's Grand Slam Track Faces Major Financial Crisis!

Ansin Sports Complex, Miramar, Florida, USA - Grand Slam Track (GST), the ambitious league founded by Olympic champion Michael Johnson, finds itself in troubled waters just months into its inaugural season. Only a short while after its launch, concerns are mounting over GST’s financial stability, particularly after failing to settle a significant rental fee of $77,896 for the Ansin Sports Complex in Miramar, Florida, where its second competition, the Miami Slam, took place. The first installment, due on July 18, was notably missed, signaling a troubling trend that raises questions about the league’s management and future.

In a report from Essentially Sports, journalist Cory Mull highlighted that this missed payment marks the first formal default on a revised payment schedule designed to accommodate the league’s prior delays. The lack of communication surrounding the missed payment has only amplified worries among stakeholders regarding GST’s financial infrastructure and its ability to meet its commitments to athletes and manage future events.

Concerns from the Athletes

World Athletics president Sebastian Coe has voiced his concerns about the league’s operations, emphasizing the troubling implications of unpaid debts, particularly those owed to athletes. Despite the promise of lucrative appearance fees of up to $200,000 and championship bonuses of $100,000, many athletes have yet to see these payments. This situation is not just a hiccup; it’s reflective of deeper issues surrounding sustainability and reliability in the league’s operations.

GST was launched in the spring of 2023 with grand ambitions—a $12.6 million prize pool and head-to-head races, designed to capture the imagination of track enthusiasts. However, the league has already faced significant hurdles. As reported by Marathon Handbook, after three events, the anticipated fourth competition was unexpectedly canceled due to concerns about long-term viability amidst shifting economic circumstances. Disappointment looms as over $13 million in prize money and appearance fees remains unpaid, adding to the frustration brewing among athletes.

Timing and Transparency Issues

Athletes have reported difficulties in communication with GST, adding to their growing impatience. It’s worth noting that only the appearance fees from the Kingston meet have been paid, and only to agents who were prompt in submitting paperwork. Some athletes took the matter to World Athletics, leading to a Zoom call organized by the Association of Athletics Managers to seek clarification from Johnson himself.

In a July 1 email from GST’s senior director of racing, it was stated that payments from the Kingston event would be completed by the end of July, with other outstanding amounts expected by the end of September. However, these commitments come with hesitations, as athletes grow skeptical of the league’s assurances. While GST officials have pointed to processing drug testing results as a reason for delays, agents assert that other organizations manage to complete testing in a more timely fashion, leaving lingering questions about GST’s efficiency.

With an initial funding of $30 million, primarily from Winners Alliance, Grand Slam Track is reportedly in search of additional investors to secure a more stable footing as it eyes a return in 2026. Johnson remains optimistic about the league’s prospects, asserting that breaking even within the first year was never the expectation. Yet, as the track community continues to watch closely, the unfolding saga of GST’s financial woes serves as a cautionary tale about the realities of establishing sustainable sports leagues.