Michael Johnson’s embattled Grand Slam Track is attempting a dramatic comeback, and this time the sprint legend is putting athletes front and center. A reorganization plan filed in U.S. Bankruptcy Court lays out a bold, athlete-first rescue: new capital, a trimmed creditor payout, and a promise to restore faith in a league that burned bright—and fast—during its chaotic debut.
A Rescue Plan Built Around the Stars
The proposal hinges on a fresh ownership group led in part by Michael Johnson, pledging more than $6.2 million to relaunch the league. Crucially, $6 million of that cash is earmarked to pay athletes roughly 85% of the $7 million still owed from the inaugural season. That move signals a clear priority: keep the competitors paid, keep them engaged, and keep the product viable.
Athletes Favored, Vendors Left Scraping
The plan draws a stark line between athletes and other creditors. While athletes stand to recover nearly $13 million of the $14 million promised—an eye-catching 92.9% recovery—general unsecured creditors, including TV producers and marketing firms owed about $13 million, would share only $200,000, a recovery of roughly 1.5%. The filing forces a painful choice: accept the athlete-first deal or risk being swept into a near-total loss if the league liquidates.
Leadership Stays in Place as Second Chance Beckons
Under the restructuring, Michael Johnson and President Stephen Gera would remain at the helm, steering a slimmed-down operation toward a possible second season. Winners Alliance, the investment group tied to Bill Ackman and a backer of the first season, is expected to contribute some or all of the new financing, offering a lifeline that could translate into a reboot rather than a full shutdown.
Legal Hurdles and a Ticking Clock
Creditors have until April 9 to lodge objections, with a confirmation hearing set for April 16, 2026. The filing contains no timetable for a return to competition, focusing instead on the financial scaffolding needed to survive bankruptcy. World Athletics has already voiced concern about restarting without settling obligations, adding pressure to get the deal right.
Stakes, Strategy, and the Road Ahead
Strategically, the plan acknowledges a simple truth: Grand Slam Track cannot exist without its athletes. By prioritizing payments to the stars—names like Gabby Thomas, Emmanuel Wanyonyi and others—the proposal aims to preserve the league’s most valuable asset: credibility on the track. For vendors and service providers, the choice is stark but clear—negotiate now or risk receiving almost nothing later. If the plan clears the legal hurdles, GST could emerge leaner, athlete-focused, and ready to chase a second act; if it fails, the sport’s brief, glittering experiment may end as quickly as it began.
