End credits for Grand Slam Track

The Grand Slam Track adventure is officially over. On December 18th, GST filed for bankruptcy, acknowledging a debt that can reach 50 million dollars. A part of this debt corresponds to payments to elite athletes, payments that have not been honoured. Big track stars like Sydney McLaughlin, Gabby Thomas or Kenny Bednarek are awaiting payments in the hundreds of thousands of dollars. And I don't think that the collaterals of GST will suffice to pay them one day. 

Created by Michael Johnson the project was launched with big fanfare and the support of the World Athletic president, S. Coe. It had attracted some of the bigger names of Athletics, like the ones I cited above but also M. Jefferson-Wooden, A. Hall. M. Arop, J. Hull, S. Eid Naser, A. Dos Santos, M. Paulino, O. Seville, to name but a few. (You can find the full list at the GST website that is still online, for the time being). 

The GST circuit staged its inaugural event in Kingston (Jamaica) and it was a financial flop. Despite the participation of big stars it attracted little interest and did not manage to create a buzz. It was followed by events in Miami and Philadelphia but then the final, scheduled for Los Angeles in June, was cancelled. At that point everybody, both suppliers and athletes, became aware of the crisis. GST tried to find an arrangement with suppliers, proposing that they accept a payment of 50% of what they were due, and a rumour circulated that sponsors, injecting an emergency funding, were secured and that at least half of the athletes' outstanding payments would be covered. Well, that turned out to be wishful thinking.

So, what happens now? Well, Lord Sebastian who had welcomed the project is now more circumspect. He stated that Grand Slam Track might not be allowed to return in 2026, stressing that events must have a "sustainable, solid financial model". 

I really like this photo of Coe 

The InsidetheGames site concluded their article on the GST bankruptcy with the phrase: "The toxic mix of heavy liabilities, fractured creditors and an absence of immediate capital leaves Grand Slam Track facing one of the starkest viability crises seen in professional athletics in recent years". But every cloud has a silver lining: thanks to the disaster of GST, we will be getting rid of M. Johnson.