Overview
- Grand Slam Track, in a court filing this week, said Johnson will repay $500,000 and proposed a new plan that pays athletes about 70% of what they are owed and most vendors about 14% to 15%.
- The deal still needs approval from the Delaware judge and creditor groups, including athletes, with a confirmation hearing set for next month.
- A creditors’ committee alleged the June 2025 transfer to Johnson was fraudulent, while Johnson and league representatives say it was a reimbursement tied to roughly $2.25 million he put into the venture.
- The proposal routes about $4.9 million to athletes and roughly $1.8 million to vendors, pays around $70,000 to key organizations like World Athletics and USADA, and leaves about $5 million owed to secured creditor Winners Alliance for later resolution.
- GST collapsed after three events in 2025 and filed for bankruptcy in December with more than $40 million in debt and under $2 million in revenue, leaving athletes, vendors, and a broadcast partner reportedly owed millions.