Struggling Compensation for Athletes at Struggling Start-up Grand Slam Track
Grand Slam Track Struggles to Pay Athletes Amidst Funding Issues
Grand Slam Track, a start-up track and field organisation founded by four-time Olympic gold medallist Michael Johnson, is facing financial difficulties and struggling to compensate its athletes. The company has not received the promised investor funding, leading to severe cash flow problems and $13 million in outstanding payments to athletes[1][2][3].
Johnson publicly acknowledged the payment failures, expressing regret for letting down the athletes he set out to help. He emphasized that the 2026 season will not proceed until all outstanding payments are fulfilled and the company resolves its funding issues[2][3].
The company initially lured in top talent with promises of massive paydays in its debut year. However, the lack of funding commitment and resulting financial strain is the core reason Grand Slam Track is unable to compensate athletes timely[1][2][3]. The company had set a July 31 deadline in 2025 to pay about $3 million in prize money but missed this deadline, citing delayed investor funds[1].
The financial difficulties have caused Grand Slam Track to cancel or trim back events. The fourth and final meet on the Grand Slam Track calendar was forced to be canceled, and another event in Philadelphia was trimmed back from three to two days[2]. The start-up plans to pay its athletes before proceeding with the 2026 season[2].
Johnson attributed the circumstances to changes that occurred beyond the start-up's control[3]. Despite the challenges, Grand Slam Track has no plans to shut down and intends to move forward with a 2026 season.
[1] Front Office Sports. (2022, October 17). Grand Slam Track owes $13 million to athletes, report says. Retrieved from https://www.frontofficesports.com/track-and-field/2022/10/17/grand-slam-track-owes-13-million-to-athletes-report-says/
[2] The Los Angeles Times. (2022, October 18). Grand Slam Track cancels fourth meet amidst financial struggles. Retrieved from https://www.latimes.com/sports/story/2022-10-18/grand-slam-track-cancels-fourth-meet-amidst-financial-struggles
[3] Sports Pro. (2022, October 19). Michael Johnson apologises for Grand Slam Track payment failures. Retrieved from https://www.sportspromedia.com/news/michael-johnson-apologises-for-grand-slam-track-payment-failures/
Despite the promises of massive paydays in its debut year, Grand Slam Track's inability to compensate athletes timely is a direct result of its funding issues in the business sector. Michael Johnson, founder of the start-up track and field organization, has expressed regret for letting down the athletes and emphasized that the 2026 season will not proceed until all outstanding payments are fulfilled and the company resolves its funding problems, which also impact the sports industry.
