Grand Slam Track — the much-hyped professional track and field league that launched with bold promises of reshaping the sport — has officially filed for Chapter 11 bankruptcy, marking a stunning setback for what was billed as the most ambitious athletics venture in years.

The league, founded last year with projections of more than US$30 million in backing, had unveiled a record-setting US$12.6 million prize pool, offering first-place payouts of US$100,000 along with appearance fees and base contracts. Grand Slam Track positioned itself as an athlete-first product and successfully staged three of its four scheduled meets in Kingston, Miami, and Philadelphia before abruptly cancelling the finale in Los Angeles.

At the time, executives denied that the league was in financial trouble. But founder and commissioner Michael Johnson later acknowledged that the shock withdrawal of a major investor in April 2025 created what he called a “major, major cash flow issue,” triggering a cascade of financial strain.

Despite securing up to eight figures in emergency funding this fall, the league’s finances continued to unravel. In October, organizers managed to distribute US$5.5 million to athletes — roughly half of what competitors were owed — while attempting to restructure debts with vendors. Current estimates place outstanding liabilities at approximately US$19 million, including unpaid prize money and operational expenses.

Johnson has insisted that no 2026 season will move forward unless all athletes are fully compensated. The organization intends to use the Chapter 11 process to stabilize its finances, implement a more efficient cost and operating model, and position the entity for long-term success.

The startup league had attracted some of the sport’s heaviest hitters, including Sydney McLaughlin-Levrone, Oblique Seville, Danielle Williams, Melissa Jefferson-Wooden, Gabby Thomas, and Alison dos Santos.

A strong Jamaican contingent also featured prominently across the series, with performances from Nickisha Pryce, Kemba Nelson, Megan Tapper, Ackeem Blake, Alana Reid, Stacey-Ann Williams, Ackera Nugent, Jodean Williams, Zandrion Barnes, along with Deandre Watkin, Omar McLeod, Orlando Bennett, Andrenette Knight, Rushell Clayton, Shiann Salmon, Malik James-King, Roshawn Clarke, Assinie Wilson, and Natoya Goule-Toppin.