"Court documents released on Monday showed that the league, which filed for Chapter 11 bankruptcy last week, still owes some of the biggest names in track and field hundreds of thousands of dollars and creditors between $10m and $50m (7.5m and 37.3m). In October the athletes received 50% of what they were owed by GST for competing in Kingston, Miami and Philadelphia before financial difficulties forced it to cancel its final event in Los Angeles."
"Well, it's not unalloyed joy is it? he said. We welcome innovation into the sport. We welcome fresh investment, but it has to be underpinned by a sustainable, solid financial model executed and delivered on behalf of the athletes. Asked whether World Athletics could stop Johnson's plans to bring GST back in 2026, despite its precarious financial situation, Coe said he did not want to get into the embers of what might happen next."
Grand Slam Track (GST) filed for Chapter 11 bankruptcy and still owes significant sums to athletes and creditors. Court documents list outstanding payments, with athletes owed hundreds of thousands and creditors owed between $10m and $50m. In October athletes received 50% of owed fees after competing in Kingston, Miami and Philadelphia, while GST cancelled its Los Angeles event due to financial difficulties. Specific athletes named with unpaid amounts include Sydney McLaughlin-Levrone, Gabby Thomas and Josh Kerr. World Athletics president Sebastian Coe expressed deep concern and stressed that new events must show a sustainable financial model, credentials and assets before joining the calendar.
Read at www.theguardian.com
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