Four-time Olympic champion Michael Johnson has broken his silence regarding the bankruptcy of his athletics venture, Grand Slam Track, confirming that he has successfully “got the athletes paid.” The project, which Johnson founded in 2024, faced a major collapse after investors withdrew their support, leading to what the former sprinter described as a “catastrophic capital issue.”
The inaugural season had promised significant salaries and prize money to contracted runners. However, the venture faltered, resulting in the cancellation of the final event in Los Angeles and a voluntary bankruptcy filing in the United States in December 2025. The Association of Athletics Managers reported in January that the organization had accumulated debts exceeding $30 million (£22.5 million).
Several prominent athletes were left awaiting payments exceeding £100,000, including British 1500m world champion Josh Kerr and 2024 Olympic 400m silver medallist Matthew Hudson-Smith. Addressing the controversy, Johnson stated that he felt a heavy personal burden during the crisis, noting that he struggled with sleepless nights while questioning his own integrity and motivations.
Johnson specifically addressed allegations from a March 2026 legal filing by creditors, which claimed he had “secretly” withdrawn $500,000 (£375,000) shortly before the business failed. He dismissed these claims as the “exact opposite” of the truth, explaining that the funds were personal reimbursements for travel expenses.
According to Johnson, the company’s credit card had reached its limit while attempting to manage travel and accommodation for 170 people, including 96 athletes and their companions, for events in Miami and Philadelphia. He stated that he instructed the travel team to charge the costs to his personal card, for which he was later reimbursed.
To further support the company during its liquidity crisis, Johnson stated that he loaned the organization $2 million to ensure the athletes were taken care of, while also choosing to forgo his own salary. He had previously committed in March to repaying the $500,000 in question.
Reflecting on the ordeal, Johnson admitted that the public scrutiny and the impact on his family were difficult to endure. He expressed relief at being able to clear up the financial situation, which he described as the most hurtful aspect of the entire collapse.
Johnson, who has served as a commentator and pundit since 2001, has not worked for the broadcaster since the Paris 2024 Olympics, having dedicated his full attention to the management of Grand Slam Track during its operation.
Contracted runners were promised lucrative prize money and salaries in the competition’s inaugural season last year, but the final event in Los Angeles was cancelled and organisers voluntarily filed for bankruptcy in the
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