The sport’s governing body said on Monday that the league should not allocate funds toward any future events unless its creditors are repaid.
A MILE. A MINUTE.
The sport’s governing body said on Monday that the league should not allocate funds toward any future events unless its creditors are repaid.
In a statement on Friday from the Association of Athletics Managers, the group said existing debts must be paid before new meets are considered.
Updated bankruptcy disclosures of a detailed creditor list show that the league owes more than was previously revealed in December.
In a court-mandated bankruptcy meeting of creditors on Wednesday, the league said it is depending on athletes to help it host another season despite its money woes.
The loan from its largest initial backer, Winners Alliance, will allow the league to move forward with the next steps of restructuring in January.
Sydney McLaughlin-Levrone, Gabby Thomas, Josh Kerr, Kenny Bednarek and Mariledy Paulino are at the top of the shortlist of athletes who are collectively owed more than $1 million in prize money and appearance fees by Grand Slam Track, according to court document disclosures following the league's bankruptcy filing. Last week Grand Slam Track filed for …
Grand Slam Track has filed for Chapter 11 bankruptcy and released a statement on Thursday that served as a update on its status as a league, finances, future plans and commitment to being transparent with its athletes. The statement, titled "To The Grand Slam Track Community," reiterated that financial issues surrounding a key investor hindered …
World Athletics has told Grand Slam Track that it will not accept a partial payment deal for licensing rights, according to published reports. In an article published by The Times on Thursday, the governing body was adamant that athletes who participated in Grand Slam Track's events — and it vendors — must be paid first …
Grand Slam Track has told multiple vendors that it hopes they can accept just half of what they are owed so they the league can avoid going bankrupt, according to published reports. In reports by The Athletic and The Times on Wednesday, several vendors that are owed millions of dollars collectively, were sent letters by …
A lifeline appears to be partially the way for Grand Slam Track as the league received a block of financing from existing investors and has paid its athletes half of what they were owed in prize money, according to a report in Front Office Sports on Friday. The league canceled its last event in June …