Grand Slam Track files for Chapter 11 bankruptcy

Grand Slam Track, a league that promised to change the landscape of professional track and field with millions of dollars in prize money for athletes, filed for Chapter 11 bankruptcy on Thursday.

The announcement comes less than a month after The Athletic told vendors to accept 50% of their owed payments or risk GST going bankrupt.

According to the bankruptcy filing, GST currently has less than $50,000 in assets and between $10,000,001 and $50 million dollars in liabilities with 200 to 999 creditors.

The league initially claimed to have over $30 million dollars in investments before canceling its final meet of the season.

“Grand Slam Track was founded to create a professional platform that reflects the talent and dedication of this sport’s athletes,” said Michael Johnson, the league's founder in a press release. “While GST has faced significant challenges that have caused frustrations for many – myself included – I refuse to give up on the mission of Grand Slam Track and the future we are building together.”

GST claims that this is not the end of the league and the process is designed to position the league for long-term success.

Force Ten Partners will serve as the league's restructuring advisor. Levene, Neale, Bender, Yoo & Golubchik L.L.P. and Kekst CNC will serve as legal counsel and communications advisors, respectively.