Four-time Olympic champion Michael Johnson has spoken publicly for the first time since Grand Slam Track filed for bankruptcy, clarifying payments made to competing athletes and himself following a financial collapse. According to an interview with The Telegraph published on Saturday, Johnson stated that he has now ensured competing runners are paid after a catastrophic capital issue forced the track league to fold.
Financial Collapse and Athlete Debts at Grand Slam Track
Grand Slam Track promised lucrative prize money and salaries to contracted runners during its inaugural season. However, the final event scheduled in Los Angeles was cancelled, leading organisers to voluntarily file for bankruptcy in the United States in December 2025, according to court records and public reports. Several high-profile competitors were owed payments exceeding £100,000. Affected athletes include British former world 1500m champion Josh Kerr and 2024 Olympic 400m silver medallist Matthew Hudson-Smith.
The Association of Athletics Managers, an organization representing numerous competitors, stated in January that Grand Slam Track had accumulated debts surpassing $30m (£22.5m). Legal filings by creditors in March 2026 subsequently accused Johnson of secretly paying himself $500,000 (£375,000) just days before operations collapsed. A Grand Slam Track representative dismissed the allegation at the time as unfounded and false.
Michael Johnson Clarifies Personal Reimbursements and Loans
Addressing the allegations directly, Johnson explained the circumstances behind the disputed financial transactions. “I’m happy to clear it up, because it’s the most hurtful thing and the exact opposite of what was reported,” Johnson told The Telegraph. He detailed severe cash-flow pressures that maxed out the organization’s corporate credit limits while managing logistics for athletes and staff.
“Our credit card was full at Grand Slam Track, because we were facing significant cash-flow issues,” Johnson said. “We had 96 athletes, plus companions, whom we needed to fly to Miami and Philadelphia. We had 170 people to house in hotels in both cities, and the credit card had no room left.” To resolve the immediate transit crisis, Johnson instructed his travel team to bill the expenses to his personal credit card with the expectation of later reimbursement. Furthermore, Johnson stated he loaned the company $2m to support athlete payments while forgoing his own salary entirely.
Did you know? Michael Johnson won four Olympic gold medals during his illustrious sprinting career before moving into sports administration and broadcasting.
Personal Toll and Broadcasting Hiatus
The collapse of the venture and subsequent public scrutiny placed a heavy emotional toll on the former athlete and his family. Johnson admitted to sleepless nights plagued by doubt over whether athletes would believe the adverse headlines. “I definitely had nights where I didn’t sleep, where I would be awake thinking: ‘This is on me. This headline just came out – do the athletes believe that?'” he remarked. He questioned his motivations, character, and integrity throughout the ordeal, noting those doubts weighed heavily on him.
Professionally, the venture demanded his undivided attention. Johnson has served as a pundit and commentator for the BBC since 2001, but he has not worked for the British broadcaster since the Paris 2024 Olympic Games as he focused his attention on GST.
Frequently Asked Questions
What caused Grand Slam Track to go bankrupt?
According to statements from Michael Johnson reported by The Telegraph, the organization suffered a catastrophic capital issue when investors pulled out, leading to severe cash-flow problems and voluntary bankruptcy filings in the US in December 2025.
How much money were athletes owed?
Several high-profile competitors were owed payments exceeding £100,000, while the Association of Athletics Managers stated in January that GST’s debts exceeded $30m (£22.5m).
Did Michael Johnson pay himself using company funds before the collapse?
Creditors filed legal papers in March 2026 alleging Johnson secretly paid himself $500,000 shortly before the collapse. Johnson clarified that the money was solely a reimbursement for travel expenses he personally covered when corporate credit cards reached their limits during events in Miami and Philadelphia.
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