Statement from AAM on Grand Slam Track

Dear AAM Members & Athletes,
 
We have been following Grand Slam Track and its ongoing bankruptcy proceedings closely and want to provide you with some updates.  We were surprised to hear in the most recent creditor meeting that GST is already working toward a 2026 season.  This with over $30M owed to over 150 athletes and more than 100 service vendors worldwide.  In their request for $2.9M in debtor-in-possession financing from the bankruptcy court to cover their operating costs (salaries, marketing expenses, office expenses, etc.) for the next few months, GST included $400,000 for athlete recruitment for the 2026 season.  This would all be funded prior to any other 2025 payments being made.  The AAM does not support this approach.
 
AAM members represent over 80% of the athletes who won medals at the most recent Olympic Games and World Championships, as well as the clear and vast majority of athletes who competed in Grand Slam Track events. The AAM and the athletes represented by us strongly supported GST and Michael Johnson in this endeavor.  We took it on faith when Michael told us both publicly and privately that he had $30M in funding for GST.  And when it became obvious after the Philadelphia event that there were serious financial issues, we have continued to be patient and support GST.  This despite the fact that the partial payments made to athletes in October can be required under bankruptcy law to be returned to the court as “preferential payments”.  The payments were made within ninety days of GST’s filing for bankruptcy protection in December and are subject to return (“claw back”) to the bankruptcy court.  Once returned to the bankruptcy court, these funds would be used to pay off secured creditors, with whatever remains to be divided among all unsecured creditors, not just athletes.
 
The AAM believes that the integrity and sustainability of track and field depend on honoring commitments and operating with basic financial responsibility. Moving forward with planning for 2026 events without making athletes and other creditors whole for the extensive 2025 debts undermines trust across the entire ecosystem and sets a dangerous precedent for athletes, vendors, and future partners alike.
 
We call on Grand Slam Track to immediately prioritize the satisfactory repayment of all outstanding debts through the reorganization process before attempting to stage additional events or pursue new commercial opportunities. Accountability must come before expansion, and credibility must be rebuilt through action—not promises.