Michael Johnson has vowed Grand Slam Track will return in 2026 despite cancelling its final meet of the year.
The athletics league was launched in April with a debut event in Kingston, Jamaica.
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Further meets in Atlanta and Philadelphia have since taken place.
However, the season finale in Los Angeles was cancelled after an investor withdrew their funding.
The move has plunged Grand Slam Track into chaos, with founder Johnson now lifting the lid on their woes.
Those include being plunged into $13million (£9.8m) worth of debt after the investor pulled out.
Speaking on the Ready Set Go podcast, Johnson explained: “One of our main investors ran into trouble, and that trouble trickled down to us.
“I didn’t sleep for a week. We had already made promises to the athletes and the fans, and we were determined to honour them as best we could.”
Grand Slam Track prize money
Johnson had initially raised $30million (£22.6m) in funding for the league prior to its launch.
As part of their pledge to overhaul athletics, Grand Slam Track provided athletes with first-class flights and hotel rooms.
The prize money on offer also proved to be a huge incentive for those competing.
Purses include £75,000 for winners, $38,000 for second place and further prize money down to $7,500 for eighth place.
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However, Front Office Sports report that athletes have only been paid their appearance fee from the Kingston meet.
Grand Slam Track also missed the deadline to pay athletes a total of $3million (£2.3m) in prize money by Thursday.
Johnson understands the frustrations of the athletes, adding: “We know the athletes don’t deal with investors—they deal with us.
“So when things go wrong, we take the heat, and that’s fair. But there’s a lot more going on behind the scenes.”
The four-time Olympic gold medallist is hopeful Grand Slam Track will make a return as he eyes a 2026 comeback.
Discussing the league’s future, he explained: “We’ve raised money since the cancellation, and we’re still raising. The difference now is that we have a product to show, not just an idea.”
Johnson continued: “We proved there’s demand for track and field when it’s presented right.
“We got the attention of fans, sponsors, and new investors. This was a major blow, but it’s not the end. We’re still fighting for this.”
