Melissa Jefferson-Wooden, Sydney McLaughlin-Levrone Among Big Losers After Grand Slam Track Files for Bankruptcy

After Grand Slam Track filed for bankruptcy on Thursday, who are the athletes that stand to lose the most money?

Following news that Grand Slam Track has filed for bankruptcy, attention has shifted to some of the big-name track stars who graced the event.

In the latest chapter of a quick fall for a league that promised to transform track and field, Grand Slam Track, fronted by American sprint legend Michael Johnson, filed for Chapter 11 bankruptcy in a Delaware court on Thursday, saying it had had less than $50,000 cash on hand, between 200 and 999 creditors and owed between $10 million and $50 million.

Among those owed millions are the main actors of the play that has since turned into a horror show, the athletes.

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Johnson promised to pay athletes between $100,000 for the winners of each race with the prizes going down to $10,000, being the reward for the athlete who finishes last, in eighth position.

Johnson Promised Heaven but Delivered Hell

Additionally, there was an appearance fee and after the first three legs in Kingston, Miami and Philadelphia, the final round in Los Angeles was cancelled for reasons that were not given before it later emerged that Johnson and co had no money.

It led to a tussle with athletes who were given promises over payment that were not forthcoming until October, when the league received some cash injection, enabling it to pay half of what the athletes were owed.

But while the athletes have been waiting for the other half, Grand Slam Track dropped a bombshell with the bankruptcy filing, leaving them unsure if they would ever receive what is owed to them.

Who is Owed the Most Money?

As per the results in the three legs, American sprinters Melissa Jefferson-Wooden and Kenny Bednarek were the ones who won the most money.

Having won all their events, the two were to be paid $300,000 each in prize money alone, excluding appearance fees, while Sydney McLaughlin-Levrone was to be the next big earner with $250,000.

Olympics champion Gabby Thomas was to be paid $180,000 while Britain’s Josh Kerr was owed $160,000. Kenya’s Emmanuel Wanyonyi was among those who made $100,000 in prize money.

However, these athletes could lose their hard-earned money unless Johnson and his partners secure some funding as it is not known what formula was used to settle the initial half in October given the amount goes higher with the addition of appearance fees.