Four-time Olympic champion Michael Johnson has confirmed he will refund a sum of $500,000 (£375,000) that was allegedly paid “secretly” just days before his Grand Slam Track (GST) league collapsed.
Three GST events were held (in Kingston, Miami and Philadelphia) before the project ended in December 2025.
The contracted riders had been promised lucrative prize money and salaries in the competition’s inaugural season, but the final event was canceled and the organizers subsequently voluntarily declared bankruptcy in the United States.
A legal filing in Delaware by suppliers claiming against Johnson and GST includes an allegation that eight days before the collapse, he “secretly” paid himself $500,000 (£375,000). GST calls that accusation “baseless and false.”
A GST spokesperson said: “While Mr Johnson has made it clear that the $500,000 was a refund and not a payment, to avoid disruption and continue moving forward, he and Winners Alliance have agreed to fund the $500,000 of the scheme so that all creditors can benefit and receive a greater distribution in connection with the company’s reorganization and efforts to revive the league.”
In May 2025, Johnson invested $2.25 million (£1.68 million) in the business, after Eldridge Industries decided not to invest $40 million (£30 million).
Johnson’s spokesman said: “Michael has put forward defenses to the claim, including that it involved a partial reimbursement of more than $2m (£1.5m) of expense advances made by Michael for the benefit of the athletes.”