Grand Slam Track, a track and field competition that began its inaugural season last year, filed for voluntary bankruptcy in the United States in December 2025 after investors withdrew funding. The final scheduled event in Los Angeles was cancelled, leaving numerous contracted athletes without promised prize money and salaries. Multiple high-profile competitors were owed payments exceeding £100,000, including British former world 1500m champion Josh Kerr and 2024 Olympic 400m silver medallist Matthew Hudson-Smith. The Association of Athletics Managers reported that the organization carried debts of more than $30m (£22.5m).
Michael Johnson, the four-time Olympic champion who was involved with the organization, has now publicly stated for the first time since the collapse that athletes have been compensated. In an interview with the Telegraph published on Saturday, Johnson addressed the financial situation and clarified details regarding his personal involvement. He explained that a severe cash-flow crisis prompted the company’s downfall after key investors withdrew their support.
Johnson also responded to allegations that emerged in March 2026 through creditor legal filings, which claimed he had secretly paid himself $500,000 (£375,000) shortly before the organization’s collapse. Johnson characterized these claims as hurtful and inconsistent with the actual circumstances. He stated that the payment was actually reimbursement for personal credit card expenses incurred while managing logistics for the athletes, including flights and hotel accommodations for approximately 96 competitors and their companions across Miami and Philadelphia. Johnson indicated he instructed the travel team to charge these costs to his personal credit card so the organization could conserve its limited funds.
Additionally, Johnson disclosed that he loaned the company $2m to help ensure athletes were cared for and that he voluntarily forgone his own salary from the organization. He previously committed in March to repaying the $500,000 in question. Johnson, who has worked as a BBC pundit and commentator since 2001, noted that he stepped back from his broadcasting duties following the Paris 2024 Olympics to focus on Grand Slam Track. He acknowledged the emotional toll the situation had taken on him and his family, describing sleepless nights spent questioning his own decision-making and character.
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