Four-time Olympic champion Michael Johnson has broken his silence regarding the collapse of Grand Slam Track (GST), the athletics venture he founded in 2024. Following the company’s voluntary bankruptcy filing in the United States in December 2025, Johnson confirmed that all athletes have now been paid.
The inaugural season of the competition faced a major setback when its final event in Los Angeles was cancelled. This left several high-profile competitors, including former world 1500m champion Josh Kerr and 2024 Olympic 400m silver medallist Matthew Hudson-Smith, waiting for payments exceeding £100,000 each.
In an interview published Saturday by The Telegraph, Johnson attributed the financial turmoil to a “catastrophic capital issue” triggered by investors withdrawing their support. The Association of Athletics Managers had previously reported in January that the organization held debts surpassing $30 million (£22.5 million).
Johnson specifically addressed allegations from a March 2026 legal filing by creditors, which claimed he had “secretly” withdrawn $500,000 (£375,000) just days before the company folded. He dismissed the accusation as inaccurate, explaining that the transaction was a reimbursement for personal funds used to cover travel expenses.
“Our credit card was full at Grand Slam Track, because we were facing significant cash-flow issues,” Johnson stated. He detailed that the company needed to transport and house 96 athletes and their companions across Miami and Philadelphia, totaling 170 people. When the corporate credit card reached its limit, he instructed the travel team to use his personal card, which he later sought to be reimbursed for.
Beyond the travel costs, Johnson asserted that he personally loaned the company $2 million to ensure the athletes were supported, noting that he chose to forgo his own salary entirely. He had previously committed to repaying the $500,000 to GST in March 2026.
Reflecting on the stress of the collapse, Johnson admitted the situation took a significant toll on his mental health and family life. He described the period as filled with sleepless nights, during which he questioned his own integrity and motivations while facing public scrutiny regarding the unpaid debts.
Johnson, who has served as a pundit and commentator since 2001, has not worked for the broadcaster since the Paris 2024 Olympics, having dedicated his time to managing the now-defunct Grand Slam Track project.
Contracted runners were promised lucrative prize money and salaries in the competition’s inaugural season last year, but the final event in Los Angeles was cancelled and organisers voluntarily filed for bankruptcy in the
We had 170 people to house in hotels in both cities, and the credit card had no room left.
I was asking myself: ‘Are you stupid?
