Michael Johnson’s Grand Slam Track League Files For Chapter 11 Bankruptcy, Owes Up To $50M – AfroTech
Michael Johnson’s track and field league, Grand Slam Track, has filed for bankruptcy, according to AP News.
Grand Slam Track Promises
As AFROTECH™ previously reported, Johnson’s love for the sport, which is reflected in his records in the 200- and 400-meter races, also led him into ownership.
He secured “the single largest investment in track and field history,” per Sportico, to launch Grand Slam Track in 2024. Johnson intended to ensure athletes could commercialize their rights and promised never-before-seen payouts of $100,000 for the top winners of four meets. A total of $3 million in funding was allocated as prize money for each meet.
What Went Wrong
In the end, Johnson was unable to keep his word. The league reportedly fell short in compensating athletes and vendors.
“Due to our strong desire to make this right as quickly as possible, we offered dated payment timelines and have been unable to meet them,” Johnson confessed in an August 2025 Instagram post.
“Understandably, this has led to frustration, disappointment, and inconvenience to our athletes, agents, and vendors. I know this damages trust. I know this makes some wonder if our vision can survive. That is why we are not just addressing the immediate problem; we are putting systems and partnerships in place to ensure it never happens again.”
Filing For Bankruptcy
Johnson has now decided to file for bankruptcy in the latest update. AP News states that Johnson’s bankroll for Grand Slam Track amounted to $30 million initially, but that number at the time of the Chapter 11 filing had dwindled to less than $50,000. Grand Slam Track also owes between $10 million and $50 million to various creditors.
Per AP News, Grand Slam Track said in a press release that the filing will position it “to return for future seasons and pursue new initiatives — including through the expansion of participatory events, enhanced media offerings, and deeper connections with the global running community.”
“I refuse to give up on the mission of Grand Slam Track and the future we are building together,” Johnson said, per the outlet.
