The collapse of Michael Johnson’s Grand Slam Track has left many of the sport’s leading athletes still owed significant sums, with competitors having received only around 50% of the prize money nearly 15 months after the venture folded. Organisers filed for bankruptcy and a portion of payments has remained tied up in an escrow account, delaying full distribution to athletes.
GST’s founder, the former world champion Michael Johnson, has defended his handling of the situation, saying he ‘got the athletes paid’. That assertion has done little to resolve wider concerns among competitors and their teams, who say substantial amounts remain outstanding as legal and administrative processes continue.
Many of the sport’s prominent names affected by the GST fallout are competing this week at the Ultimate Championships in Budapest, where organisers have assembled a $10 million prize pool — the largest in the sport’s history. Individual event winners at the Budapest meet stand to receive first prizes of $150,000, offering athletes an alternative route to earnings while some GST funds remain inaccessible.
The dispute highlights the financial fragility that can follow the sudden failure of a high-profile sports venture, with athletes reliant on timely payment for income and planning. With the escrow account still holding money after the bankruptcy filing, athletes and their representatives say they are awaiting clarity on when full settlements will be made.
Organisers, creditors and legal advisers connected to the GST bankruptcy have not provided a public timetable for releasing the funds in escrow. Meanwhile, the Budapest competition proceeds, drawing attention to both the sport’s growing prize money and the unresolved fallout from the ill-fated Grand Slam Track project.