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Michael Johnson’s GST venture has strongly denied speculation that the retired track star received $2 million during the series while athletes were not compensated, calling these claims as completely untrue.

Instead, the group asserted that Johnson himself faced financial losses during the venture.

Athletes and Suppliers Seek Compensation

The four-time Olympic gold medalist is now facing the prospect of legal action from competitors, representatives, and suppliers who supported the series events.

Insiders suggest that outstanding debts could total up to $19 million, with some competitors allegedly forced to withdraw from major purchases due to delayed prize money.

A number of participants now fear they will never receive the funds they expected.

Johnson’s Representative Responds

An official spokesperson for Johnson stated that, contrary to rumors, the former champion did receive no income from the event.

“The rumors that Michael Johnson earned $2 million or profited in any way from Grand Slam Track are categorically false,” the spokesperson stated. “In fact, Michael has invested more than $2 million of his own money into the initiative.”

They continued, “Our team is working hard to secure more financial support, and Michael has requested understanding while we address this situation.”

Launch and Termination of the Event

GST was unveiled amid high expectations in Kingston last April, offering competitors as much as $100,000 for winning their events, along with additional compensation for official “racers”.

However, the competition was cancelled prior to the fourth meeting in LA, after the organizer disclosed that a key investor had pulled funding because of low attendance at the Jamaican event.

Although the subsequent events in Miami and Philadelphia were considered successful, the economic condition had already become critical.

Next Steps and Ongoing Situation

The former athlete remains hopeful that the competition can return in the coming years and hopes to resolve all remaining payments by the close of September.

However, legal experts are reportedly reviewing the situation, and Sebastian Coe, head of the sport’s global organization, has stated that they are closely monitoring the developments.

Recently, Johnson acknowledged that he had let down the competitors involved, saying: “It is incredibly difficult to live with the reality that you’ve built something significant while feeling you’ve let down the very people you set out to help.”

He added, “We committed that competitors would be fairly and quickly compensated. But, now we find ourselves struggling with our ability to compensate them.”