Back in 2024, Michael Johnson dreamed of rewriting the future of track and field with his bold new venture, Grand Slam Track. Renting out an entire restaurant for the grand announcement, the former Olympian unveiled a vision like never before: Massive cash prizes, post-event perks, and athlete-first benefits that promised to revolutionize the sport. But the dream soon hit a wall.

The key investor, who had pledged $30 million, abruptly backed out after the inaugural event, leaving Johnson stranded and scrambling. Months of uncertainty followed, and now the legend has finally broken his silence, revealing the grim reality behind GST’s downfall.

Let us first tell you how big a promise Johnson made with Grand Slam Track. Over a third of its funding, more than $3 million per meet, was dedicated solely to prize money. Winners were supposed to get a massive $100,000 for their victory. Do you know that Wanda Diamond League Finale winners receive a meagre $20000 as a winning prize. And from GST, it was not just about the winning dollars. 48 contracted athletes were guaranteed base salaries and a slice of licensing revenue.

While the promises were as huge as a mountain, but Johnson was bullish on it. Things started to go downhill only after the inaugural event. Athletes and vendors remain unpaid, with sources pointing to nearly $13 million owed to competitors alone. Now, amidst the chaos, Johnson himself admitted this Friday that the league is going through a financial crunch, and now it questions the survival of the sport.

“The cruelest paradox in all of this is that we promised that athletes would be fairly and quickly compensated. Yet, here we are struggling with our ability to compensate them,” wrote Johnson on his Instagram handle. The Olympian further added that they were expecting a helping hand from the investors and were positive they would receive the money; however, everything now appears grim.

With no other option left, Michael Johnson announced that they are canceling the 2026 event until further notice, as their first commitment is to pay off their debts. Meanwhile, Johnson stated that he is still confident about GST’s future.

Still the sudden announcement came as a shock to fans.

Fans come in support of Michael Johnson amid the GST cash crunch fiasco

“If I had an investor who said, ‘Well, I need it to be profitable in Year 2,’ I would not take their money because that’s impossible,” said Johnson back in 2024. The Olympian believed in his investors at that time, and perhaps this has backfired now.

With an intent to change the sport forever, Johnson dreamed of making it a global phenomenon. However, as GST is now on the verge of closing, one fan stated, “I really hope everything is turned around and the league survives. You can tell MJ and this team was dedicated to innovation in our sport, and it was a breath of fresh air. Praying that new investors will come in, we grow the sport and that GST will be back on top!”

There was a time when fans opposed Johnson after he failed to pay the athletes the necessary amount, but things appear to have changed now. A fan even added, “Maybe create a GoFundMe where fans can donate.” Johnson explained in his statement that the funding shortfall resulted from circumstances “beyond our control.” He had earlier revealed to Front Office Sports that one of the investors withdrew their financial support.

Furthermore, one was saddened by the state of the sport.“Hate to see things end this way.” NBC News had the opportunity to have a conversation with some of the agents of the athletes, and they foresaw a grim future for GST. “My message to our athletes is, look, it’s not good,” that agent said. “But on the other hand, their intent is to pay, and we’re going to wait for them to pay us. Otherwise, they won’t have a future.” 

Well, Michael Johnson did have some noble ideas to change the sport, as one fan believes, “At least you can tell he genuinely cares and doesn’t find it as a cash grab.” 

Then, another straight out accused the country of not honoring its legends,“USA just doesn’t honour and respect track and field like other countries do.”  

Last but not least, a fan added, “I hope everything falls in place for GST.”

Now, with Grand Slam Track out of the picture, Alexis Ohanian’s Athlos has a clear path to fill the gap in the sport. GST was supposed to be its competitor, but it appears that Athlos alone will have to take on that role.

Will GST make a comeback, or is this the end of it? Time will tell.