Seven Olympic medalists, including Sydney McLaughlin-Levrone, Gabby Thomas, and Melissa Jefferson-Wooden, are among the athletes owed significant amounts by Grand Slam Track, a racing league that recently filed for bankruptcy. The league, which refiled for Chapter 11 bankruptcy, disclosed a list of its top 20 creditors on Monday.
McLaughlin-Levrone, a four-time Olympic champion and record holder in the 400-meter hurdles, was listed as the fifth-highest creditor, being owed $365,250 US. Other owed athletes include Kenny Bednarek, Josh Kerr, Marileidy Paulino, and Alison Dos Santos, with Dos Santos and Jefferson-Wooden each owed $190,625. The remaining athletes were owed amounts ranging from $211,000 to $250,000.
The league revised its estimated assets to be between $1 million and $10 million, contrasting with the initial filing indicating assets of less than $50,000. It stated it owed between $10 million and $50 million to 200 to 999 creditors, with the largest sum of $3.036 million owed to Momentum-CHP Partnership, a joint venture for TV productions.
In a recent news release announcing the bankruptcy, Grand Slam Track expressed optimism for its future by mentioning plans to return for upcoming seasons and explore new ventures with a more sustainable financial approach. The league, founded by Olympic gold medalist Michael Johnson, had signed athletes who received salaries, appearance fees, and competed for prize money in a season-long series that was cut short due to the cancellation of its final event in Los Angeles.
