Pay the Athletes 85%, Save the League: Inside Grand Slam Track’s bankruptcy plan

February 10, 2026

Grand Slam Track is definitely not dead yet. In a bid to salvage the professional track league and return in the future, Michael Johnson’s Grand Slam Track filed a reorganization plan Monday that prioritizes athlete payouts while offering pennies on the dollar to nearly everyone else owed money.

The plan, filed in the U.S. Bankruptcy Court for the District of Delaware, is dependent on a new ownership group, or Plan Sponsor, “owned and controlled at least in part by Michael Johnson” investing more than $6.2 million into GST to try to let a new entity emerge from bankruptcy. The lion’s share of that money, $6 million, is earmarked to pay athletes roughly 85% of the remaining $7 million they are owed.

Meanwhile, the league’s other general unsecured creditors, a group including various vendors and contractors (think TV producers, TV broadcasters, marketing agencies, etc.), who are collectively owed roughly $13 million, would split a mere $200,000, recovering only 1.5% of what they are owed. LetsRun