Athletes Risk Losing Their Competition Venue if Compensation Isn't Provided, According to CEO's Declaration
The Grand Slam Track, a league founded with the ambitious goal of offering high salaries to track athletes in non-Olympic years, is currently facing significant financial struggles. The league, spearheaded by four-time Olympic gold medal sprinter Michael Johnson, has seen a series of setbacks that may lead to its ceasing of operations if the outstanding debts are not paid.
Several athletes, including Olympic gold medalist Gabby Thomas, have taken to social media to air their grievances about the league. The athletes have expressed concerns over unpaid prize money and appearance fees from the inaugural season, which totals approximately $13 million across three completed meets [1][2][3]. The league owes money to some of the sport’s biggest names, including Fred Kerley and Josh Kerr.
The financial struggles are primarily due to a shortfall in expected investor funding. One key investor reportedly withdrew an eight-figure commitment, exacerbating the cash flow issues [3]. As a result, the league's current priority is satisfying outstanding debt before seeking new investors for a potential second season.
The Grand Slam Track series initially claimed to have $30 million in financial commitments, but it seems that these commitments have not materialized as planned. The league has recently added new partners and is seeking more investors for a potential second season, but its top priority remains settling outstanding debts.
The league's season-opening event in Kingston, Jamaica, saw lackluster ticket sales, with slightly improved returns at events in Miami and Philadelphia. Despite these challenges, the Grand Slam Track circuit has secured top athletes like world champion Josh Kerr.
Michael Johnson, CEO and commissioner of Grand Slam Track, acknowledged commitments have gone unfulfilled and missed payment deadlines. He has publicly apologized and stated that the 2026 Grand Slam Track season will not proceed until all outstanding financial obligations to athletes and partners are met [1][2][4]. Johnson remains "confident about the future" but stresses that obtaining stable, committed funding is essential before any renewal of the competition.
The Grand Slam Track series was initially a business collaboration between Johnson and Winners Alliance, a venture founded by the Professional Tennis Players Association. The series offers prize money ranging from $100,000 for first place to $10,000 for eighth place for each Grand Slam Track competition [1].
In the midst of these financial challenges, Johnson has also expressed concerns about trust and the league's vision. He has stated that the immediate problem is being addressed and systems are being put in place to prevent future issues [1][2][4].
In conclusion, the financial turmoil facing Grand Slam Track is a result of lost promised funding, causing unpaid millions to athletes and putting the continuation of the league on hold until these debts are resolved [1][2][3][4]. The league is working diligently to secure new investors and implement systems to prevent such a situation from recurring. Johnson's confidence in the league's future remains steadfast, but the priority remains addressing the outstanding debts before any renewal of the competition can be considered.
[1] Sportico
[2] ESPN
[3] Athlete Ally
[4] USA Today
Ticket sales from the Grand Slam Track series have been insufficient, contributing to the league's financial woes. The sports industry has been impacted as the league struggles to meet its financial obligations, particularly regarding unpaid prize money and appearance fees.
The finance-related shortfalls in the Grand Slam Track league are mainly due to the failure of promised investments, leaving the league significantly in debt and unable to secure a second season until these debts are paid off.
