Grand Slam Track has been told by many of the sport’s top agents and managers that they will not support any effort for the league to stage another season in the wake of the league’s ongoing bankruptcy proceedings.
In a statement issued on Friday, the Association of Athletics Managers warned the venture that every athlete who is owed money from its inaugural season must be repaid — in addition to vendor — if the concept of new events is even considered.
“We were surprised to hear in the most recent creditor meeting that GST is already working toward a 2026 season,” the statement read. “This with over $30m owed to over 150 athletes and more than 100 service vendors worldwide. In their request for $2.9M in debtor-in-possession financing from the bankruptcy court to cover their operating costs for the next few months, GST included $400,000 for athlete recruitment for the 2026 season. This would all be funded prior to any other 2025 payments being made. The AAM does not support this approach.”
The statement references a meeting of the league’s creditors that was held on January 14 and facilitated by the United States Department of Justice. While it was already previously known that Grand Slam Track faced claims from over 350 creditors, some present in the meeting were surprised to learn that the league has set aside $400,000 toward new athlete contracts presumably for a new season this year.
In addition to the allocation for new contracts, the league looks to spend $100,000 on marketing, an additional $120,000 on payroll and $50,000 on consultancy fees as part of a proposed budget.
Meanwhile, updated bankruptcy filings show that the league now owes over $40 million to its creditors — $10 million more than was previously disclosed.
“The AAM and the athletes represented by us strongly supported GST and Michael Johnson in this endeavor,” the statement from the AAM continued. “We took it on faith when Michael told us both publicly and privately that he had $30M in funding for GST. And when it became obvious after the Philadelphia event that there were serious financial issues, we have continued to be patient and support GST.”
The group represents a significant portion of premier athletes across track and field, distance running and cross country and was founded in 2006.
Following the cancellation of Grand Slam Track’s last meet scheduled for June, speculation about the league’s finances grew and numerous agents and managers began to inquire about the state of the venue and event consulted World Athletics about the matter.
By December the Michael Johnson-founded league filed for Chapter 11 bankruptcy after months of rumors and weeks prior it asked its creditors to joint accept half of owed payments so it could avoid folding. That proposal was widely rejected.
According to the AAM, partial payments were made to athletes in October but under bankruptcy regulations, those funds could be returned to the court as “preferential payments” since secured creditors would have to be paid first once an approved plan for the league’s finances has been sorted.
“The AAM believes that the integrity and sustainability of track and field depend on honoring commitments and operating with basic financial responsibility,” the statement said. “Moving forward with planning for 2026 events without making athletes and other creditors whole for the extensive 2025 debts undermines trust across the entire ecosystem and sets a dangerous precedent for athletes, vendors, and future partners alike.”
