Grand Slam Track , in a race to settle its major financial debts have spent 617 thousand 935 US dollars in January this year.
This after the Michael Johnson, founded organisation filed for chapter 11 bankruptcy in Delaware on December 11, 2025
Most of this money – $440,000 – went to lawyers with another $25,000 to another set of lawyers, while almost $90,000 was allocated for payroll and medical insurance.
Grand Slam Track received $1 million of the $2.305 million loan available from winners alliance for bankruptcy support to pay for all of this, and now has a total indebtedness of $41.68 million.
The next step is consideration at a March 12 hearing of a proposed reorganization plan.
This will see athletes being payed about 85% of what they are owed and almost nothing to the unsecured vendors and suppliers.
11 Jamaican athletes are owed a total of 536 thousand 625 dollars led by Ackera Nugent who is indebted to the tune of 137,500 dollars.
The league which began in Kingston in April last year, was then staged in Miramar Florida, and later headed to Philadelphia, before the fourth stop slated for Los Angeles in June 2025, was canceled,
