Grand Slam Track’s failed funding left athletes unpaid and futures uncertain, raising questions about transparency in sports startups.
A Promising Start Cut Short
Grand Slam Track (GST), the upstart athletics league launched by Olympic legend Michael Johnson, cancelled its season finale earlier this year after struggling to meet financial commitments. Despite boasting of $30 million in backing, reports now reveal the league never had the funding it promised.
Financial Claims Under Scrutiny
According to an investigative report from The Athletic, GST’s $30 million figure included a $19 million pledge from investment firm Eldridge. The money was never secured, relying only on a preliminary term sheet tied to the league’s debut event in Kingston, Jamaica, in April. Weak attendance led Eldridge to withdraw, leaving GST without the majority of its projected budget.
Impact on Athletes and Partners
The collapse left dozens of athletes, vendors, and even host cities waiting for payments. Runners who competed for advertised six-figure prize money have yet to be compensated, raising concerns about trust and transparency in professional track and field. Without guaranteed funds, athletes were left in financial limbo.
Why the League Pressed Ahead
Observers question why GST continued staging high-profile events despite losing most of its financing. Some speculate organizers believed new investors would step in. Others argue the leadership was overly optimistic about the product’s appeal. Whatever the intent, the outcome has damaged the league’s credibility.
Lessons From Other Sports Models
Industry analysts note that other sports, including professional boxing, require promoters to deposit fighter purses in escrow weeks before competition, ensuring athletes are paid regardless of revenue. Similar safeguards in track could have prevented the unpaid bills now plaguing GST’s debut season.
What Comes Next
Johnson has stated the league intends to return, but any relaunch would require settling debts and rebuilding trust with athletes. New investors would also need assurance that GST can deliver on its promises. For competitors, the bigger question is whether risking training schedules and career momentum is worth another gamble.
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