Grand Slam Track, the league fronted by sprint great Michael Johnson that offered six-figure prize money for top runners, has filed for bankruptcy after canceling its final event and failing to pay athletes and vendors.
Johnson boasted a $30 million bankroll at the outset, but in its Chapter 11 filing Thursday in Bankruptcy Court in Delaware, the league said it had less than $50,000 cash on hand, between 200 and 999 creditors and owes between $10 million and $50 million.
