Grand Slam Track, founded by Michael Johnson, owes over Ksh 10 million to Miami's Ansin Sports Complex, raising concerns about the league's financial stability.
Grand Slam Track (GST), the professional track and field league founded by four-time Olympic champion Michael Johnson, is facing significant financial challenges.
This includes outstanding venue rental fees and unpaid athlete winnings. Despite two successful meets in Boston and Los Angeles, the league's future is uncertain.
How Much Does Grand Slam Track Owe Ansin Sports Complex
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According to documents obtained via a public records request, as seen by Forbes, Grand Slam Track owes the Ansin Sports Complex in Miramar, Florida, more than Ksh 10 million ($77,896) for the Miami Slam held in May.
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The initial payment of Ksh 3,876,000 ($30,000) was due on July 18, as part of a revised payment plan. The original agreement stipulated full payment within 30 days of the event, which concluded on May 4.
These financial difficulties follow the cancellation of Grand Slam Track's final meet in Los Angeles, reportedly due to issues with the venue agreement.
The league also altered its Philadelphia race schedule, eliminating the 5,000-meter race and halving the prize money for distance events.
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While Michael Johnson stated the decision to end the inaugural season was based on achieving pilot season objectives and expressed optimism for a 2026 return, concerns remain about the league's financial stability.
Initially, Grand Slam Track announced more than Ksh 3 billion ($30 million) in financial commitments from partners, including lead investor Winner's Alliance. However, no filings for Grand Slam Track are available in the SEC's EDGAR database.
Gabby Thomas, Emmanuel Wanyonyi and Co. Yet to be Paid
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Adding to the financial woes, reports indicate approximately Ksh 1 billion ($13 million) in race winnings and appearance fees remain unpaid to athletes who competed in Jamaica, Miami, and Philadelphia.
While appearance fees for the Kingston meet have reportedly been paid, prize money payouts are allegedly scheduled for late July and September.
Several high-level GST staff members have also been let go, further fueling concerns about the league's future.
Athletes, including triple Olympic champion Gabby Thomas, have publicly requested payment on social media. Other athletes confirmed to NRK and Forbes that they have yet to receive their winnings.
In addition to the outstanding facility rental fee, GST also owes the City of Miramar nearly Ksh 1.9 million ($15,000) in ticket surcharge fees based on a sliding scale tied to ticket prices.