Court filings on Tuesday reveal that the athletes voted unanimously for a proposal to pay them a significant portion of $7 million in prize money.
A MILE. A MINUTE.
Court filings on Tuesday reveal that the athletes voted unanimously for a proposal to pay them a significant portion of $7 million in prize money.
A committee of creditors is seeking to sue Johnson and investor Winners Alliance for alleged actions that ultimately led to the league’s collapse.
In an objection on Friday in U.S. Bankruptcy Court, the creditors said the proposal seeks to “take care of athletes, at the expense of everyone else.”
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 …