The four-time Olympic gold medalist, Michael Johnson, has been accused of a secret self-payment, which he made only eight days before the Grand Slam Track was shut down. According to reports, the former American sprinter discreetly transferred $500,000 to himself despite being aware of insufficient funds to pay athletes and vendors.
A group of vendors made the allegations and demanded action against the management and board members of GST. They also suggested carrying legal proceedings against the lead investor, the Bill Ackman-backed fund Winners Alliance, for around $25 million. The United States Bankruptcy Court for the District of Delaware stated that Johnson took the money without any approval from the GST board.
The transaction took place on June 4, 2025, eight days before the Los Angeles edition of the event was canceled. After the first three meets were held in Kingston, Miami, and Philadelphia, the LA edition was canceled without any prior knowledge to the athletes and vendors about the financial setbacks.
According to nytimes.com, the creditors are trying to recover $12.9 million from GST. They also alleged that Winners Alliance had invested only $13 million and not $30 million, as the Grand Slam Track claimed.
Their filings added that at the beginning of 2025, GST had only $5.5 million, which was inadequate to run even one track meet.
What Did Michael Johnson Say About Grand Slam Track League’s Financial Issues
The multiple-time Olympic medalist Michael Johnson’s Grand Slam Track League’s debut edition faced a major setback after the first three events in Kingston, Miami, and Philadelphia.
In a media interview, months after the discontinuation of the league, Johnson addressed the financial constraints, saying that it was due to an important investor’s withdrawal. However, the former sprinter refrained from disclosing the name.
The league that started with $30 million in promised funding owes at least $13 million to athletes.
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