Michael Johnson's Grand Slam Track Faces $13M Financial Collapse

Grand Slam Track, the ambitious track and field league launched by Michael Johnson with $30 million in initial funding, is facing severe financial difficulties after a major investor withdrew their commitment following President Donald Trump’s tariff announcement. This withdrawal caused a significant cash flow crisis, forcing the league to cancel its final event in Los Angeles and leaving it owing at least $13 million to athletes and additional sums to vendors. Initially, league officials downplayed financial problems, attributing the cancellation to logistical issues, but Johnson later confirmed the financial strain as the primary cause. Despite the setbacks, Johnson remains optimistic about the league's future, although Grand Slam Track has already laid off staff and cut pay amid the crisis. The sport’s governing body, World Athletics, has expressed concern over unpaid athlete fees, emphasizing the importance of protecting athletes during this turmoil. The situation highlights the vulnerability of new sports ventures to external economic shifts and investor decisions.