Grand Slam Track's Bankruptcy Leaves Olympians Unpaid

Grand Slam Track, the racing league founded by Michael Johnson, filed for bankruptcy, owing substantial sums to several Olympic medalists, including Sydney McLaughlin-Levrone and Gabby Thomas. The league cited between $10 million and $50 million in liabilities to its creditors. Attempts to restructure are underway.

Grand Slam Track, a racing league founded by Olympic gold medalist Michael Johnson, has filed for Chapter 11 bankruptcy, leaving several prominent Olympians owed substantial amounts.

The league's refiling revealed it owes between $10 million and $50 million, with creditors nearing a thousand, including high-profile Olympic medalists like Sydney McLaughlin-Levrone and Gabby Thomas.

Despite the financial turmoil, Grand Slam Track intends to restructure and return, having adjusted its asset valuation to between $1 million and $10 million, with the largest claim being more than $3 million.

(With inputs from agencies.)