Payment setbacks have left top athletes, including Gabby Thomas, Sydney McLaughlin-Levrone, and Emmanuel Wanyonyi, waiting, as financial uncertainties continue to cloud Grand Slam Track.
Sydney McLaughlin-Levrone, Gabby Thomas, Emmanuel Wanyonyi, Mary Moraa, and Co have to wait longer for their Grand Slam Track prize money to be cleared.
Grand Slam Track, the financially struggling track and field startup founded by Olympic legend Michael Johnson, has missed a crucial deadline for paying athletes over $3 million in prize money.
The league had promised athletes the first instalment of winnings from its April debut event in Kingston, Jamaica, by the end of July.
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Instead of receiving payments, three agents representing athletes who competed in Kingston told Front Office Sports that they received an email from the league.
Grand Slam Track had attracted top athletes with the promise of substantial prize purses; winners were set to walk away with $100,000.
The second-place finishers were scheduled to pocket $50,000 for second place, and so on, down to $10,000 for eighth. While appearance fees for the Kingston event have been paid, the prize money remains outstanding.
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In total, Grand Slam owes athletes at least $13 million in prize money and appearance fees from its three events in Kingston, Philadelphia, and Miami. No prize money or appearance fees have been paid for the Philadelphia or Miami meets.
While the league cancelled its Los Angeles event due to what Michael Johnson admitted was a cash flow problem caused by an investor withdrawing an eight-figure commitment, it has pledged to honour appearance fees from that event.
Earlier this month, the league assured agents that Kingston prize money would be paid by the end of July, with remaining payments, including Los Angeles appearance fees, settled by the end of September. Now, the league is pushing back that timeline.
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Grand Slam Track Breaks Silence on Missing Deadline for Paying Athletes
In a statement to Front Office Sports, Grand Slam Track said it anticipates investor funds ‘imminently’ and that athletes are its ‘top priority.’
The league stated it would process payments immediately upon receiving the funds, acknowledging that bank processing times may vary.
The statement emphasised the league's ongoing recapitalisation efforts and commitment to distributing funds as they become available.
Last week, Michael Johnson told Front Office Sports he was working to secure funding to cover the shortfall created by the withdrawn investment. The league launched with $30 million in investor commitments.
The missed deadline has heightened anxieties among athletes. American distance runner Grant Fisher, who won his event in Kingston and is owed $100,000, told reporters on Wednesday that if the money did not arrive by Thursday, ‘people would get pretty upset.’
He also raised the possibility of legal action and expressed doubt about the league's viability if it failed to meet its financial obligations.
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Fisher emphasised the broader implications of the situation, stating that if athletes are not paid, it could discourage future investment and participation in new track and field ventures. He expressed hope for a positive resolution, recognising the potential damage to the sport if the league fails.