"The rumours that Michael Johnson has received $2m or profited in any way from Grand Slam Track are categorically false, the spokesperson said. In fact, Michael has actually put over $2m of his own money into the project. We are working hard in real time to secure additional funds, and Michael has asked for patience while we try to fix this."
"The series was launched with great fanfare in Jamaica in April, with athletes promised $100,000 (73,300) for winning their events at each of the four meetings, as well as additional money for being an official racer. However, it was cancelled before the fourth event was due to be held in Los Angeles, with Johnson revealing that GST had lost the backing of a big-money investor after Kingston struggled to attract fans."
"Johnson is facing the prospect of legal action from athletes, agents and the suppliers who helped stage three GST meetings, with sources claiming they are owed as much as $19m (13.9m). It is understood that two athletes claim they had to withdraw from buying a house when prize money was not paid, and many privately believe they will never receive their money."
Grand Slam Track (GST) launched in April with promises of $100,000 per event win and additional fees for official racers. The fourth meeting in Los Angeles was cancelled after GST lost a major investor following poor attendance in Kingston. Organisers now face claims from athletes, agents and suppliers who say they are owed about $19m, with some athletes reporting missed prize payments that affected personal finances. Michael Johnson and his representatives deny he pocketed $2m, stating he personally invested over $2m and is seeking additional funds. Johnson hopes the series can return in 2026 and aims to settle debts soon.
Read at www.theguardian.com
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