Michael Johnson to refund $500,000 following Grand Slam Track bankruptcy
Four-time Olympic champion Michael Johnson has confirmed he will refund $500,000 he allegedly paid himself shortly before his Grand Slam Track league collapsed in December 2025.
The ambitious athletics project folded after hosting just three events in Kingston, Miami and Philadelphia.
Organisers voluntarily filed for bankruptcy in the United States after cancelling the final meeting of their inaugural season.
A legal filing in Delaware by vendors accused the American of secretly paying himself the six-figure sum eight days prior to the financial collapse.
Disputed payment and reimbursement claims
Representatives for the league vehemently rejected the accusations of a secret payout, labelling them unfounded and false.
A spokesperson clarified that the 58-year-old always viewed the transaction as a reimbursement rather than a direct salary payment.
The former sprinter had previously injected $2.25m into the business in May 2025 after a major investor withdrew from a planned funding round.
“To avoid disruption and continue moving forward he and Winners Alliance have agreed to fund the $500k to the plan so that all creditors can benefit.”
Debts, athletes and future prospects
The organisation faces substantial financial hurdles, with the Association of Athletics Managers estimating debts exceeding $30m earlier this year.
Under a newly amended bankruptcy plan, athletes are projected to receive 70% of their promised prize money, while unsecured creditors may only recover around 15%.
Former world 1500m champion Josh Kerr is among the competitors affected, with legal documents indicating the British runner is owed $168,750.
World Athletics has maintained a firm stance on the matter, refusing to license any future events until all outstanding obligations from the 2025 season are settled.
The global governing body previously described attempts to restart the competition without paying athletes and vendors as unconscionable.
BBC broadcasting departure
In a separate development, the BBC confirmed there are no plans to feature the legendary athlete in its athletics coverage this year.
Representatives for the four-time Olympic gold medallist stated it was his personal decision not to renew his broadcasting contract following the Paris 2024 Games.
