Tournament Organizer of the Grand Slam Track Confirms No $2m Earnings for Michael Johnson in the Series
Grand Slam Track Faces Uncertain Future Amidst Financial Struggles
The debut season of Grand Slam Track, a new series aimed at elevating athletics and offering better prize money to athletes, has come to an early end due to financial difficulties. The cancellation of the Los Angeles Slam has forced the series to conclude prematurely.
According to a spokesperson, founder Michael Johnson has invested over $2m of his own money into the cash-strapped venture, but the insolvency of Signa, owned by René Benko until January 2025, has caused significant financial problems for the series.
The first event of the series, held in Kingston, attracted sparse crowds, and the two-day meets in Miami and Philadelphia also fell short of expectations. The insolvency of Grand Slam Track has led to possible legal claims from athletes totalling $19m (£14m). No new information about potential legal claims or payments to athletes was provided.
British sprinter Zharnel Hughes, who participated in the series, stated in July that he is still waiting for some of his payment from Grand Slam Track. His agent has been in touch with the organisation about the shortfall in payment. Despite the financial struggles, Hughes believes that many athletes who participated in Grand Slam Track enjoyed the experience.
Michael Johnson, who built something bigger than himself with Grand Slam Track, has expressed difficulty in fulfilling his promise to fairly and quickly compensate athletes. Suggestions that he earned $2m while competitors in the Grand Slam Track went unpaid are categorically false. Johnson has not profited in any way from Grand Slam Track.
The payment delay and cancellation of the last Grand Slam event may make athletes hesitant for the next season. The future of Grand Slam Track remains uncertain as investors pull out, and Johnson feels he has let down the athletes he aimed to help.
Despite the challenges, Johnson remains hopeful that Grand Slam Track can overcome its financial difficulties and continue to provide better opportunities for athletes in the future.
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