Court Filings Expose Major Debts Owed to Sydney McLaughlin-Levrone, Gabby Thomas By Grand Slam Track

Michael Johnson's beleaguered start-up, Grand Slam Track (GST), has filed for bankruptcy, revealing that it owes more than $1 million to a roster of elite athletes, including Sydney McLaughlin-Levrone, Gabby Thomas, and Josh Kerr.

The track league, launched by the former Olympic champion, submitted a voluntary petition for Chapter 11 bankruptcy protection last week in Delaware.

Court documents paint a grim financial picture, listing assets between $0 and $50,000 against liabilities ranging from $10 million to $50 million. The filing, signed by Johnson, indicates that between 200 and 999 creditors are affected.

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Despite the collapse, GST stated it aims to "reposition the league" through a "comprehensive reorganisation" with the hope of returning in the future.

This development follows a November report by The Athletic, which revealed that GST had presented vendors with an ultimatum: accept 50% of the money owed or risk the company going into bankruptcy.

Several vendors rejected the offer, believing they were entitled to full payment. They argued it would be unjust for GST to proceed with another season while leaving them with a significant shortfall. Some businesses noted that even a 50% loss would pose a major challenge to their operations.

As part of the Chapter 11 filing, GST was required to disclose its 20 largest unsecured creditors. The list highlights the substantial sums owed to both athletes and service providers.

The court documents detail significant debts to some of the sport's biggest names:

Sydney McLaughlin-Levrone: $356,250

Gabby Thomas: $249,375

Kenny Bednarek: $225,000

Josh Kerr: $218,750

Marileidy Paulino: $211,875

Alison dos Santos: $190,625

Melissa Jefferson-Wooden: $190,625

The largest single creditor is Momentum-CHP Partnership, a production joint venture, which is owed $3 million. Other major creditors include construction firm PMY Ets Usa Inc. ($1.27 million) and graphics company Girraphic (over $690,000).

The financial crisis became public in August when Michael Johnson acknowledged that GST had failed to pay its athletes on time.

At that point, competitors, including 28 medalists from the 2024 Paris Olympics, were owed millions in prize money and promotional fees.

An investigation by The Athletic found that while some initial promotional fees were paid, the league had not distributed the $3.2 million prize purse from its first event in Kingston.

GST launched in April this year, after a 2024 press release announced it had secured over $30 million in financial commitments.

By early October, the league had reportedly arranged financing to cover only half of the money owed to its athletes, with the funds remaining subject to future repayment by GST.

The four-time Olympic gold medalist and eight-time world champion had envisioned GST as a revolutionary force in athletics, promising to treat its participants as "true professionals." He successfully recruited 48 of the world's top track athletes, with an equal split of men and women, to join the league.

The competition format required athletes to run two races at each meet, with their combined scores determining their final placing.

The prize money was substantial, ranging from $100,000 for first place to $10,000 for eighth. With a total prize pot of $12.6 million over four events, GST offered a larger purse per meet than the prestigious Diamond League, which has a budget of $18 million spread across 14 meetings this season.

In addition to prize money, athletes were offered base compensation, support services, and access to a dedicated content team.