Track and field icon Michael Johnson has opened up for the first time about the financial turmoil that forced his ambitious new league, Grand Slam Track (GST), to slam the brakes on its inaugural season.
Once billed as a game-changer for the sport, fast-paced, athlete-centered, and free from bloated bureaucracy, GST promised to modernize track and field for a new generation. But the sleek branding and bold vision could not shield it from deeper economic headwinds.
Launched with over $30 million in backing, GST hoped to establish itself through marquee events in Kingston, Miramar, Los Angeles, and Philadelphia. Local governments contributed a further $9.45 million in support. Yet cracks began forming early, starting with a poorly attended launch event in Jamaica and mounting financial pressures surrounding the high-cost Los Angeles meet.
The situation deteriorated quickly. By June, the Los Angeles leg was abruptly canceled, saving the league an estimated $2.5 million in operational and prize expenses. But this decision, though fiscally defensive, couldn’t reverse the growing cash crunch.
Speaking candidly in an interview with Front Office Sports Today, Johnson confirmed what many insiders had suspected.
According to Johnson, the league’s financial downfall stemmed not from bad planning alone, but from an external blow, Trump’s global tariff announcement in April.
“We saw a bit of a seismic shift in the economy due to tariffs,” Johnson revealed.
A key investor, who had previously signed an eight-figure term sheet after attending GST’s Kingston debut, abandoned ship, citing market uncertainty.
“It was really late for us to be able to pivot when that happened,” Johnson said.
A System Under Strain
With just weeks between events, the league had little room for error. As losses mounted and investments dried up, even basic operational costs became burdensome. In Miramar, Florida, home to the May event, public records show GST defaulted on a $30,000 facility rental fee, leaving an outstanding balance of nearly $78,000.
These financial lapses paint a stark picture, an underfunded startup racing against both time and economic instability. What was meant to be a streamlined spectacle for fans and athletes has, for now, stalled under the weight of a volatile global market.
Johnson’s explanation highlights a larger, less visible problem, the ripple effects of global trade policies on the sports industry. Trump-era tariffs have deeply impacted the cost of sports equipment, apparel, and infrastructure in the U.S., where an estimated 97 percent of all athletic apparel is imported.
From hockey sticks to track spikes, nearly all essential sports gear is sourced from overseas. Even a modest four to eight percent tariff, as noted by Jason Messar of B&R Sports, becomes unsustainable when multiplied across thousands of product lines and retail chains.
Major leagues like the NBA, NHL, and PGA Tour are already feeling the pinch. Golf brand Topgolf Callaway expects a $5 million hit to its EBITDA due to tariff-related costs. In Canada, where a quarter of NHL revenue originates, pressure on the Canadian dollar is threatening franchise valuations. Across the board, sports merchandise is becoming more expensive to produce and sell, pricing out fans and raising costs for teams at every level.
Cuts Clothing founder Lloyd Lee summed up the dilemma.
“To maintain margins under the new rules, a $50 item may have to sell at $79.”
What Comes Next?
For Michael Johnson and Grand Slam Track, the question now is whether transparency and recalibration can pave the way for a comeback. The Olympic legend’s honesty marks a rare moment of leadership in a landscape often defined by spin. Still, the league’s future remains uncertain.
“We were under pressure from day one,” Johnson admitted.
It may need a total redesign, one built for a global economy where even sport is no longer insulated from policy shocks.
For now, the promise of a new era in track and field remains unfinished business. But in owning the league’s shortcomings and identifying the forces behind its unraveling, Johnson has given GST a fighting chance at redemption.