The future of the Michael Johnson-backed Grand Slam Track (GST) league is hanging in the balance after it filed for bankruptcy, leaving top athletes owed hundreds of thousands of pounds. World Athletics president Sebastian Coe has issued a stark warning that there is no guarantee the troubled circuit will be allowed back on the calendar in 2026, even if it manages to settle its substantial debts.
Star Athletes Left Out of Pocket
Court documents released this week reveal the stark reality of the league's financial collapse. GST, which sought Chapter 11 bankruptcy protection last week, has liabilities estimated between $10 million and $50 million (£7.5m-£37.3m). Among the creditors are some of track and field's biggest names, who are still waiting for significant portions of their appearance fees.
Despite athletes receiving 50% of their fees for events in Kingston, Miami, and Philadelphia last October, major shortfalls remain. American 400m world champion Sydney McLaughlin-Levrone is owed $356,250 (£265,576), while Olympic 200m champion Gabby Thomas is due $249,375 (£185,900). Britain's 1500m world champion Josh Kerr is awaiting payment of $218,500 (£162,883). The Wimbledon-based broadcast agency Girraphic is also owed over $690,000 (£514,810).
Coe's Warning and the Demand for Sustainability
Sebastian Coe expressed deep concern over the situation, emphasising that while innovation is welcome, it must be built on solid foundations. "We welcome fresh investment, but it has to be underpinned by a sustainable, solid financial model executed and delivered on behalf of the athletes," Coe stated.
He pointedly noted that World Athletics controls the competition calendar and will police it rigorously. "We have to make sure that when there are fresh events, that they come to the table with the kind of credentials and assets that I talked about," he said. Any new proposition must be "fireproof" and "sustainable," Coe insisted, casting serious doubt on GST's potential revival in 2026.
A Contrast with World Athletics' New Venture
Coe contrasted the GST model with World Athletics' own new event, the Ultimate Championships, set to launch in Budapest in September 2026. He described it as a "very, very big moment" for the sport, with the biggest prize pot in history and a different, carefully planned financial model. Teams have been working on the project for three years to ensure it does not let athletes down, a clear dig at GST's failed promises.
The collapse of Grand Slam Track serves as a cautionary tale for athletics. It highlights the risks when new, high-profile ventures lack the robust financial planning required to support the athletes who are the lifeblood of the sport. All eyes will now be on whether Michael Johnson and his backers can salvage the project and satisfy both their creditors and the sport's governing body.
