Grand Slam Track — the ambitious professional track and field league founded by Olympic icon Michael Johnson — filed for Chapter 11 bankruptcy in Delaware on Thursday, revealing up to $50 million in liabilities and only a sliver of assets as it scrambles to salvage its future.
The filing marks a dramatic twist for the upstart league, which debuted its inaugural season in 2025 and had pitched itself as a bold reinvention of global track competition.
A League Built by a Legend Now in Financial Freefall
According to its petition, Grand Slam Track listed between $10 million and $50 million in liabilities and no more than $50,000 in assets, signaling a steep financial cliff.
Johnson — a four-time American Olympic gold medalist known for redefining the sprinting world — launched the league in 2024 with aspirations of staging elite, televised competitions worldwide.
But by Thursday, the league said its focus had shifted to stabilizing finances and restructuring operations under court supervision.
