Grand Slam Track
World Athletics deems Grand Slam Track's future plans unconscionable
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Track and field's governing body has criticized the bankrupt Grand Slam Track league for considering funding future events before settling its debts. World Athletics emphasized the need to prioritize payments to athletes and vendors. The league's bankruptcy filings reveal over $40 million in liabilities.
Vendors involved with the collapsed Grand Slam Track league are seeking court permission to sue Olympic champion Michael Johnson and investor Winners Alliance for $25 million, alleging fraud and mismanagement. The creditors claim Johnson improperly paid himself $500,000 and that Winners Alliance led the league into financial ruin despite promises of support. A bankruptcy court hearing on the matter is scheduled for Thursday.