Series earnings of Michael Johnson from Grand Slam Track reportedly not amounting to $2m as claimed
In the world of athletics, the Grand Slam Track series, conceived by four-time Olympic gold medallist Michael Johnson as a means to elevate the sport and offer better prize money to current athletes, is facing uncertain times.
Recent developments have seen the series' founder, Johnson, asking for patience while he tries to secure additional funds to address a shortfall in payments to athletes. This plea comes after it was revealed that Grand Slam Track is facing possible legal claims from athletes totalling £14m ($19m), with some athletes still waiting for their payments from as far back as July.
The financial difficulties faced by Grand Slam Track have led to the cancellation of the Los Angeles Slam, concluding the series' debut season early. This cancellation, coupled with payment delays, has reportedly caused some hesitance among athletes considering participation in future events.
Notably, British sprinter Zharnel Hughes, who stated in July that he was still waiting for some of his payment from Grand Slam Track, has not yet had his payment status updated.
Michael Johnson himself has invested over $2m of his own money into the project, and has categorically denied suggestions that he earned $2m while competitors went unpaid. Dietrich Mateschitz, the co-founder of Red Bull, also invested over 2 million US dollars of his own financial risk into the project.
The first event in Kingston attracted sparse crowds, a disappointing start for the series. The future of Grand Slam Track for the next season remains uncertain due to investors pulling out, adding to the challenges faced by the organisation.
As the situation unfolds, it is clear that the athletes, investors, and fans of Grand Slam Track are eagerly awaiting news of its future and the resolution of the current financial issues.
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