‘Didn’t Sleep For A Week!’ - Michael Johnson on Investor Pullout That Left Grand Slam Track in $13m Debt

American track and field legend Michael Johnson has broken his silence on the financial unraveling of his ambitious track and field league, Grand Slam Track, revealing how a sudden investor pullout left the organization $13 million in debt and forced the cancellation of its highly anticipated final meet in California.

In a candid interview on Justin Gatlin and Rodney Green’s Ready Set Go podcast, Johnson said the league had initially secured $30 million in investment commitments to support its first season. 

PAY ATTENTION: Stay updated with the Latest Sports News in Kenya from Pulse Sports

However, in April—just after its debut meet in Kingston, Jamaica in April—a key investor experienced a financial setback that triggered a chain reaction.

“One of our main investors ran into trouble, and that trouble trickled down to us,” Johnson said. “I didn’t sleep for a week. We had already made promises to the athletes and the fans, and we were determined to honor them as best we could.”

The league managed to host three meets—Kingston, Atlanta, and Philadelphia—before abruptly canceling its Los Angeles finale. 

The announcement sparked widespread frustration among athletes, some of whom had already traveled in anticipation of the event, including Sydney McLaughlin-Levrone, who was one of the athletes vocal over the inconvenience.

Her sentiments were backed by the likes of Gabby Thomas, who, after getting featured in Grand Slam Track marketing materials, publicly called out the league, demanding to be paid.

Johnson admitted the backlash was painful, especially as the public face of the venture. “We know the athletes don’t deal with investors—they deal with us,” he said. “So when things go wrong, we take the heat, and that’s fair. But there’s a lot more going on behind the scenes.”

According to Johnson, the league's spending was deliberate and focused on transforming how the sport is perceived. 

That included first-class flights for athletes, individual hotel rooms, major prize money, professional-grade broadcast production, and venue buildouts.

“People saw the product and said, ‘This is what track should look like.’ But it costs real money to make it look like that,” he said. “We weren’t trying to make a small change—we were trying to make a bold one.”

Johnson, who won four Olympic gold medals during his career, insisted that much of the league’s budget was spent before the first race even began, including staffing, legal fees, and marketing to build the brand throughout early 2024. “We weren’t just paying for meets—we were building a professional sports league from scratch.”

Now faced with $13 million in outstanding obligations, Johnson says Grand Slam Track is working with athlete agents on a structured repayment plan and is actively pursuing new funding.

 “We’ve raised money since the cancellation, and we’re still raising,” he said. “The difference now is that we have a product to show, not just an idea.”

Despite the setback, Johnson is optimistic about the league’s future and is aiming for a return in 2026. 

“We proved there’s demand for track and field when it’s presented right. We got the attention of fans, sponsors, and new investors. This was a major blow, but it’s not the end. We’re still fighting for this.”