KINGSTON, Jamaica — The emerging track and field circuit, Grand Slam Track (GST), founded by Olympic medalist Michael Johnson, has formally initiated bankruptcy proceedings. The league announced this significant development through an official statement released on its Instagram platform this Thursday, citing the abrupt withdrawal of a key financial commitment earlier this year as the primary catalyst.
In its communiqué, the league reflected on its ambitious mission to establish a premier professional platform worthy of the sport’s elite athletes. The inaugural season was hailed for delivering a series of memorable competitions, featuring groundbreaking athletic performances, unexpected outcomes, and highly anticipated rivalries. However, these sporting successes were overshadowed by persistent structural challenges.
‘While our first season successfully created a backdrop for unforgettable races and record-breaking moments,’ the statement read, ‘it simultaneously revealed that the league required a more durable financial and operational foundation to truly fulfill its long-term mission.’
Following the sudden loss of its pledged investment, GST leadership embarked on an intensive campaign to secure alternative funding sources. The objective was to meet existing financial obligations and ensure the league’s continuity. After exhausting all potential avenues, the organization concluded that a court-supervised reorganization process represents the most viable strategy to safeguard its community and overarching objectives.
This bankruptcy filing is positioned not as an endpoint, but as a strategic restructuring. GST emphasized that this legal process will facilitate the resolution of outstanding liabilities, potentially attracting new investors and strategic partners. The ultimate goal remains achieving sustainable growth and long-term stability for the innovative track league.