Grand Slam Track founder Michael Johnson will pay $500,000 to vendors in lieu of them filing a lawsuit against the bankrupt league.
Front Office Sports reported Tuesday that Johnson and the vendors who did work for the league were in agreement, according to its review of a Monday court filing.
The money in question was a $500,000 payment that Johnson took from the league in June 2025 before filing from bankruptcy, millions of dollars in debt. A committee representing the creditors contended the payment was fraudulent, which Johnson said was not factual, according to the filing.
An Olympic champion, Johnson founded the league and signed 48 of the world’s top athletes to compete in four events with a $12.6 million prize pool. Only three events were held before the final scheduled meet in Los Angeles was canceled due to financial shortages.
Only three of the events ended up being held — in Miami, Philadelphia and Kingston, Jamaica — before the final scheduled meet in Los Angeles was canceled.
Athletes listed as being owed money, as listed in the league’s January bankruptcy filing, include four-time Olympic gold-medalist hurdler Sydney McLaughlin-Levrone ($268,750), reigning U.S. 100-meter champion Kenny Bednarek ($195,000) and Olympic 200-meter gold medalist Gabby Thomas ($185,625).
Front Office Sports reported that in the Monday filing, Grand Slam said it would alter its previous bankruptcy repayment plan to pay the athletes 70% of the $7 million they are owed instead of the previously planned 85%. The vendors’ cut will rise from 1.5% of the money due to them to as much as 15%.
The judge in the case and the other creditors, including the athletes, still must sign off on Grand Slam Track’s proposal. The court scheduled a hearing for next month.
–Field Level Media
