Tournament Organizer Disputes Report Claiming Michael Johnson Earned $2m from Event Sequence
Grand Slam Track Struggles with Financial Woes
The Grand Slam Track series, conceived by Olympic legend Michael Johnson, was designed to offer better prize money to current athletes. However, the series is currently grappling with its ability to compensate the athletes, leading to concerns and potential legal issues.
Johnson, the founder of Grand Slam Track, has invested over $2m of his own money into the cash-strapped venture. Despite this, the series has faced several financial difficulties, culminating in the cancellation of the last event of its debut season. The first event in Kingston attracted sparse crowds, and the two-day meets in Miami and Philadelphia were followed by the cancellation of the Los Angeles Slam.
According to a spokesperson, Johnson has asked for patience while Grand Slam Track tries to secure additional funds. However, British sprinter Zharnel Hughes, who participated in the series, expressed his concerns about the payment delay and cancellation of the last event, which may make athletes hesitant for next season. Hughes' agent has been in touch with Grand Slam Track regarding the shortfall in payment.
Rumors suggesting that Johnson earned $2m from Grand Slam Track are categorically false. The investor who withdrew funding after the disappointing first event of Grand Slam Track was not identified, nor was the reason for the withdrawal explicitly stated.
The organisation is facing possible legal claims from athletes totalling $19m (£14m). Johnson acknowledged that it is "incredibly difficult" to live with the reality of letting down the athletes he set out to help. He stated that they promised athletes would be fairly and quickly compensated, but they are currently struggling with this.
Despite the financial struggles, the Grand Slam Track series has received positive feedback from many athletes who enjoyed the events. However, the ongoing financial difficulties and payment issues could potentially tarnish the reputation of the series and deter athletes from participating in future seasons.
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