US EditionSydney McLaughlin-Levrone, Gabby Thomas Among Those Owed Six Figures by Bankrupt Grand Slam Track
GST owes nearly $10 million to top 20 unsecured creditors including athletes and a broadcaster after financial struggles forced Chapter 11 filing.
- On Monday, Delaware court documents listed Grand Slam Track filed for Chapter 11 last week and included the top 20 unsecured creditors, with Kerr and six other athletics stars owed millions.
- Attendance problems and a backer pulling out after Kingston, Jamaica in April of this year pushed finances to the brink, with Philadelphia reduced from three days to two and the Los Angeles final cancelled.
- A broadcast partner is listed as being owed over $3m, with the top 20 creditors' claims nearing $10m, including Sydney McLaughlin-Levrone owed $356,250.
- The Chapter 11 filing gives GST the chance to reorganise and `stabilise its finances`, and the league said it will implement a more efficient cost and operating model while hundreds of creditors await resolution.
- Founded and launched by multiple Olympic champion Michael Johnson, GST promised up to $12.6m in prize money, which Johnson later admitted the league could not afford.
21 Articles
21 Articles
Associated Press News
Sydney McLaughlin-Levrone, Gabby Thomas among those owed six figures by bankrupt Grand Slam Track
Sydney McLaughlin-Levrone, Gabby Thomas, Melissa Jefferson-Wooden and four other Olympic medalists are among those owed six-figure sums by Grand Slam Track, the racing league that filed for bankruptcy earlier this month.
Michael Johnson’s Grand Slam Track League Files For Chapter 11 Bankruptcy, Owes Up To $50M
Michael Johnson’s track and field league, Grand Slam Track, has filed for bankruptcy, according to AP News. Grand Slam Track Promises As AFROTECH previously reported, Johnson’s love for the sport, which is reflected in his records in the 200- and 400-meter races, also led him into ownership. He secured “the single largest investment in track and field history,” per Sportico, to launch Grand Slam Track in 2024. Johnson intended to ensure athletes…
Sydney McLaughlin-Levrone owed $350,000 in Grand Slam Track bankruptcy filing
McLaughlin-Levrone was the first athlete to sign with the new track startup back in June 2024 The post Sydney McLaughlin-Levrone owed $350,000 in Grand Slam Track bankruptcy filing appeared first on Canadian Running Magazine.
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