Grand Slam Track Faces Financial Fallout: Notable Athletes Among the Creditors
A recent bankruptcy filing in the U.S. court has unveiled troubling financial details for Grand Slam Track (GST), a startup league that aimed to revolutionize athletics. The filing discloses that GST owes significant sums to its top creditors, including prominent athletes. Among the top 20 creditors is renowned two-time Olympic 400m hurdles champion Sydney McLaughlin-Levrone, who is owed a staggering US$350,000 due to a combination of unpaid prize money, signing bonuses, and appearance fees.
McLaughlin-Levrone was the inaugural athlete to partner with Grand Slam Track when the league was founded by four-time Olympic champion Michael Johnson in June of 2024. Her contract not only marked her as the face of the league but also included lucrative incentives expected to elevate her status in the sporting world.
In her recent performances, McLaughlin-Levrone showcased her prowess by winning the long hurdles category at both the Kingston and Miami slams, ultimately finishing second in the short hurdles category in Philadelphia. Despite her achievements earning her a total of $250,000 in prize money, GST’s filings indicate that only half of that amount has been disbursed. Furthermore, her lucrative deal with GST was reportedly worth over $300,000.
Grand Slam Track’s abrupt cancellation of its final scheduled event in Los Angeles, less than three weeks prior to the date, raised eyebrows. The company cited concerns over venue logistics and broadcast arrangements as reasons for the cancellation. However, reports discussed the decision as an attempt to avert substantial financial losses, particularly after disappointing attendance figures at the Kingston, Jamaica, and Miami meets hindered the league’s financial viability for hosting another large-scale event.
McLaughlin-Levrone is not alone in facing financial uncertainties as several high-profile athletes are also listed among GST’s top creditors. U.S. Olympic 200m champion Gabby Thomas finds herself owed $249,375, while fellow American sprinter Kenny Bednarek is owed $225,000. British distance runner Josh Kerr and reigning Olympic 400m champion Marileidy Paulino are also on the list, owed amounts of $218,750 and $211,875, respectively.
According to the latest court documents, Grand Slam Track owes a staggering total of $9.45 million to its top 20 creditors. This sum includes approximately $1.26 million owed to the five athletes mentioned above. The comprehensive filing reveals that GST owes money to over 200 different creditors, with reports suggesting that the total debt could be as high as $20 million; however, the specific amount has yet to be disclosed publicly.
On December 11, GST filed for Chapter 11 bankruptcy in Delaware, a legal procedure that allows businesses to reorganize their debts while remaining operational under court oversight. In their official statement posted on social media, GST expressed optimism, stating that the bankruptcy filing is the “clearest path to protect the league’s mission.”
“GST can still be that league,” the statement emphasized, “and we are working every day to ensure it is built on a foundation worthy of that purpose—to build a future that lasts.” For more details on this developing story and to stay updated on fundraising efforts to support GST and the athletes involved, you can visit Canadian Running Magazine.
