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Grand Slam Track files for bankruptcy
December 12, 2025
Amid financial woes following their inaugural season, Grand Slam Track (GST) has filed for Chapter 11 bankruptcy.
This while having millions of debt owed to athletes and vendors.
In a press release posted on their social media yesterday, GST confirmed the decision to file for bankruptcy, having explored all other options.
"From the outset, our goal at GST has been to build a professional platform that truly reflects the excellence, commitment and ambitions of this sport's athletes," the release read. "That's why we have done everything possible to address our financial challenges.
"After the withdrawal of a committed investment earlier this year, we worked tirelessly to secure replacement funding, meet our obligations and (to) keep GST moving forward," the release continued.
"With every alternative fully explored, moving into a court-supervise reorganisation - which is what GST did today, became the clearest path to protect our community and our mission."
PUBLIC FILING
According to the public bankruptcy filing, GST has declared estimated assets between US$0 to US$50,000, estimated liabilities between US$10 million and US$50 million and a range of 200 to 999 creditors.
The bankruptcy filing comes months after the league's inaugural season where they promoted their US$30 million funding and its record-breaking prize pool of US$12.6 million.
The GST league was set to host four meets - in Kingston, Miami, Philadelphia and Los Angeles (LA).
However, the fourth and final meet in LA was cancelled amid growing reports of financial difficulties.
US Olympian Michael Johnson, who conceptualised and led the initiative, confirmed the meet's cancellation was due to the withdrawal of a major investor, which left GST unable to fulfil their financial commitments.
"We've had a very difficult situation this year financially. We had an investor that wasn't able to honour their complete commitment to the league," Johnson said.
"That was a huge blow to us, caused a major, major cash flow issue for us, put us in a difficult position, put our athletes in a difficult position. But we're very confident that we'll pull ourselves out of it."
Since the cancellation, GST has worked towards paying athletes and vendors their monies owed by opening talks with new investors.
The league was able to secure emergency funding and in October, distributed US$5.5 million to its athletes, which amounted to half of the figure owed.
NOT THE END
According to a report by Citius Mag, it is estimated that GST has a debt of US$19 million, which includes athlete prize money, vendor debts and operational costs.
Johnson confirmed no further staging of GST will be held until their debts are paid, but also said this will not be the end of the league.
In their press release, GST said they hope they can build a platform to promote and grow the sport in the years to come.
"GST can still be that league and we are working every day to ensure it is built on a foundation worthy of that purpose," the press release read.
"Thank you for your patience, your belief and the dedication you continue to show this sport. We remain committed to honouring that - and to building a future for GST that lasts."
