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Grand Slam Track just received 11th-hour funding support to stave off pending doom. Former American 400 metre sprinter Michael Johnson had an audacious plan to revolutionize track with Grand Slam Track (GST). While the meets were popular in concept, a number of factors outside of his control prevented some of the meets from having success at the gate. However, he also chose odd markets to sell tickets in. The only location with potential to fill a stadium was in Los Angeles and that event was cancelled.
According to The Athletic, several investors provided critical, last-minute funding to cover at least half of what is owed to athletes.
GST has secured a financial life jacket that may enable the series to continue in 2026.
Johnson’s concept was unique in that he wanted to put on a major league-level event in terms of a show and financial prowess. Competitors would earn $100,000 (€87,000) per appearance, which is unheard of in track. Shortly after its start, the league began to have issues. The grand finale, scheduled for June in Los Angeles, was cancelled due to a lack of funds, raising a serious red flag.
The amount provided has not been made public; however, estimates suggest a range of between $5 million (€4.3 million) and $10 million (€8.6 million).
While the money falls short in covering all that GST owes athletes, which is about $11m (€9.5) and another $8m (€6.9m) to suppliers, it has allowed payment of 50 per cent of what was due to the athletes. One agent confirmed that the funds were received early Friday, providing partial relief after weeks of anxiety and unrest.
The backers include Winners Alliance. The organization is connected to sport through the tennis elite tour, ATP, and is chaired by billionaire Bill Ackman. Ackerman was part of the initial funding to launch GST.
Johnson should rethink some of the locations for GST. Should he continue, the fees for athletes, while they should be generous, should perhaps be tempered a little. He should secure a strong television contract, one that covers all operational and fixed costs. Otherwise, Grand Slam Track is destined for another failed season.
A long-term vision and action plan, if not in place, will help funders understand what their money is going to do within a budget.
For 2026, athletes will want payment up front. It is not an ideal position to be in.
