The golden spikes have lost their luster. Grand Slam Track (GST), the ambitious global league founded by sprinting legend Michael Johnson to revolutionize athletics, has filed for Chapter 11 bankruptcy in Delaware. The move, confirmed late last week, marks a disastrous end to a debut season that promised to pour millions into the pockets of track stars but ended with cancelled meets, empty seats, and a balance sheet bleeding red ink.

For the global track community, this is a stunning reversal. For Kenyan athletes who banked on GST’s lucrative prize purses, it is a potential financial catastrophe. The league, which launched in April 2025 with a war chest of promises, now lists liabilities between $10 million and $50 million (approx. KES 1.3 billion to KES 6.5 billion), with less than $50,000 (KES 6.5 million) in cash on hand.

A Season of Broken Promises

The warning signs were there long before the lawyers got involved. The inaugural season, designed to feature four marquee "Slams," began to unravel mid-year. While the opener in Kingston, Jamaica, showed flashes of brilliance, the subsequent Philadelphia meet was cut from three days to two. The final blow came in June, when the season finale in Los Angeles—the home of the 2028 Olympics—was abruptly cancelled.

Court filings reveal a grim picture of the league’s collapse:

• Massive Debt: GST owes creditors, including athletes and vendors, up to $50 million.
• Investor Flight: A major backer reportedly pulled out days after the Jamaica debut, triggering a cash flow crisis.
• Unpaid Talent: Despite promising a total prize pot of $12.6 million (approx. KES 1.6 billion), many athletes have received only a fraction of their appearance fees and winnings.

“We were devastated when we learned we would not receive the funding committed to us,” Johnson admitted in a statement, striking a defiant but somber tone. “I refuse to give up on the mission of Grand Slam Track, but we must stabilize our finances.”

The Kenyan Blow: Wanyonyi and Moraa in Limbo

This collapse hits home for Nairobi. The league had aggressively recruited Kenyan talent to legitimize its "Racers vs. Challengers" format. Olympic 800m champion Emmanuel Wanyonyi was a standout performer, stepping up to the 1500m in Kingston with a fearlessness that Johnson himself praised as the highlight of the meet. Similarly, 800m world champion Mary Moraa was a headline signing, bringing her signature dance and dominance to the track.

These athletes are not just competitors; they are businesses. The allure of GST was its base compensation and prize money, which far outstripped the Diamond League’s offerings. With GST now classified as a debtor-in-possession, athletes are considered "unsecured creditors." In bankruptcy terms, this often means they are last in line to be paid, potentially receiving pennies on the dollar for their labor.

Can the League Outrun its Debt?

The Chapter 11 filing allows GST to restructure rather than liquidate immediately, keeping a flicker of hope alive for a 2026 return. Johnson insists this is a strategic pause to "implement a more efficient operating model." However, trust is a currency harder to earn than dollars. Vendors who were asked to accept 50% payment cuts have already walked away, and agents will be wary of signing their stars to a league that couldn't finish its first lap.

For now, the track world watches and waits. The vision of a professionalized, high-stakes league remains compelling, but the execution has served as a brutal reminder: in the race for profitability, a fast start means nothing if you don't have the stamina to finish.