"Track athletes have long struggled to make money; the quadrennial cycle of the Olympics brings attention to the sport in erratic bursts that are difficult to sustain between Summer Games. After the Paris Olympics, several track start-ups sought to allay the unsteadiness, most notably Michael Johnson's Grand Slam Track: The four-time Olympic gold medalist boasted that GST had secured over $30 million in funding before Paris."
"Johnson's main investor was Winner's Alliance, the Bill Ackman vehicle also associated with Novak Djokovic's nascent, contradiction-riddled tennis players union. The Athletic reported this past August that the Winner's Alliance had not in fact invested the promised $30 million, but rather had handed over $13 million, with an option to give an additional $19 million if things went well. Things did not go well."
Grand Slam Track launched with promises of major funding and a $12.6 million first-year prize pool but collapsed within a year. The league claimed over $30 million in backing, but primary backer Winner's Alliance provided only $13 million with an option for more. The inaugural meet in Kingston underwhelmed potential partners; Eldridge declined to invest. GST held meets in Miami and Philadelphia, canceled Los Angeles, and scaled down prize money. Many athletes, including 28 Paris medallists, went unpaid. Payment delays were initially attributed to drug-testing protocols before investors reportedly went cold, leaving GST insolvent.
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