Four-time U.S. Olympic champion Michael Johnson, who co-founded Grand Slam Track, has been accused of paying himself $500,000 while athletes and creditors went unpaid before the league collapsed and filed for bankruptcy in December.
According to The Guardian, eight days before the last Grand Slam Track event, Johnson allegedly accepted payment of half a million dollars, according to legal paperwork filed against him. The lawsuit was filed in U.S. bankruptcy court in Delaware by the league’s vendors.
“Mr. Johnson initiated a payment of $500,000 purportedly on account of an unsecured note,” lawyers stated in the paperwork. “Shockingly, Mr. Johnson elected to secretly prefer himself over the athletes and other, non-insider creditors, while at the same time feigning to the public that he was selflessly looking to advance the interests of the athletes.
“Moreover, at the same time, the debtor knew it was in precarious financial straits without sufficient cash to complete its contemplated season.”
The attorneys stated that Johnson was owed $2.2 million, and he took $500,000 on June 4, 2025, knowing the league was heading toward financial ruin and couldn’t pay its debts.
When the league filed for bankruptcy, it owed between $10 million and $50 million to more than 200 creditors.
A league spokesperson, Alex Tourk,
released a statement to the media outlet regarding the accusation, calling it “unfounded and false.”“As was previously explained to the UCC, Mr. Johnson advanced millions of dollars for GST’s operating expenses, including athlete travel, accommodation, and costs, only a portion of which was repaid through the reimbursement,” Tourk added. “It is unfortunate that the UCC chose to ignore facts and is instead attempting to discredit the company and Mr. Johnson through false statements.”
The Athletic reported that the vendors also requested permission to sue the league’s management and board members for at least $25 million.
RELATED CONTENT: Minding Our Own Business: How Garveyism Imagined Pan-African Identity