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≡ GRAND SLAM TRACK ≡
LetsRun.com obtained a statement offered at the first meeting of the Grand Slam Track creditors and its bankruptcy reorganization team, in which the circuit acknowledged more than $30 million debt and just $7,300 in cash on hand. A loan from lead investor Winners Alliance is expected to pitch in with almost $3 million in loans to help Grand Slam Track in bankruptcy.
The statement from Mark Fulton of the Momentum-CHP Partnership, the league’s television production partner and the largest creditor at $3.04 million, included:
“Speaking on behalf of all vendors, let me be absolutely clear: everyone here wants Grand Slam Track to succeed. However, that success cannot – and should not – be built on the financial harm of the 2025 vendors. The impact on businesses, athletes and individuals has been severe, and the strain placed on people’s mental wellbeing has been significant and ongoing.
“The vendors have acted in good faith at every stage. Our support for the Grand Slam Track leadership, including founder Michael Johnson and President and COO Steve Gera, has been consistent and unwavering. We are not in this position due to any failure on the part of vendors. To the contrary, vendors repeatedly went above and beyond, a fact Mr. Gera himself acknowledged by routinely thanking us as ‘fantastic partners.’
“Let’s also be clear about this: without its vendors – including world-class athletes and the teams responsible for operations, infrastructure, broadcast, media, logistics and catering and many more – Grand Slam Track simply does not exist.
“Prior to Christmas, vendors were shocked by the treatment they received and by what can only be described as a disregard for the very people who delivered the product. Every element of this event was executed at the highest level. Everyone performed. There is no justification for work delivered in full not being paid for in full, or at the very least dealt with transparently and in good faith.
“In an effort to support the survival of Grand Slam Track, vendors offered meaningful concessions and reductions to the amounts owed. Those offers were not meaningfully engaged with. Since mid-October, nearly all communication has focused on preserving Grand Slam Track, while the vendors – who carried the operational and reputational risk – were largely ignored. The only proposal presented was unclear, incomplete, and when vendors sought clarification and quantification, there was no response. We did not choose to be in this position. But we are here now.”
The statement finished with:
“We are not here to argue. We are here to resolve this properly. That resolution must fairly address what is owed to vendors while allowing Grand Slam Track to move forward on a sustainable and credible footing. A resolution that meets those standards would allow all parties to move forward constructively and with confidence.”
Moving forward is going to be difficult, despite the comments. A recent filing explained that the reorganization effort includes looking for a sale of Grand Slam Track, essentially of its intellectual property assets. But it is also clear that the $7 million outstanding to participating athletes needs to be paid before anyone is going to take a chance on the circuit again.
Nine of the top 10 vendors are suppliers, for broadcasting, design and marketing, publicity and so on; the only athlete in the top 10 is Sydney McLaughlin-Levone, at $356,200. Seven of the top 20 are athletes.
The next hearing, dealing with interim financing, is slated for 2 February 2026.
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