World Athletics refuses 50% offer from Grand Slam Track demands FULL BALANCE DUE for licensing WA

Convention Center charages a fortune for catered Coffe and Tea, Cokes with Ice in real glass cups, etc.

I can't wait for Grand Scam 2026!

I think if the Contract says they are going to pay whatever they should fulfill their contract Obligations. Something much more important than any amount of Money is a Person's word THE PERSON's WORD IS PARAMOUNT. Contracts are NOT even the Important thing, If someone tells you they will do something it should be enough. EXAMPLE When Bob Backlund said he was told By Vince McMahon SENIOR he was told if he Agreed to this and that he would get it. Backlund Said He would shake your hand, look you in the Eye and say we have an Agreement and he honored everything he said, Backlund said he did not sign any contracts Backlund said When he gave his word (Mcmahon Sr) It was better than any Contract, Backlund said When Vince McMahon JUNIOR took over, McMahon Juniors word meant nothing So Contracts were important because the New Boss Word did not mean anything he would screw you over. I Think Now A Days People are so honest and fairness always Trumps Money, I thinK Contracts SHOULD be done away WIth because having Trust in a Person's word should be enough, in a World where everyone is 100% Honest and Fairness to people is more important than Money.

You have no idea what you're talking about. Grand Slam Track doesn't have enough money to pay everyone.

All compensation that GST employees made since inception should be CONFISCATED and given to the athletes.

The athletes put their bodies on the line and jeopardized their entire season for GST.

The employees just sat on their butts and failed at their jobs.

What I don't understand is this.

They reportedly owe around $10 million. They are offering to pay 50%. This tells me that they have $5 million right now available for payments. However, they are giving the vendors an ultimatum that if they don't accept this 50% payment by December 5, then they will declare bankruptcy and the vendors will get nothing.

So what happens to the $5 million they have right now? Does it get collected by the bank who handles the bankruptcy? Surely GST can't keep it. And why can't they be legally forced to turn over what they have to the vendors to at least cover some of their losses? I don't know how a bankruptcy like this works.

Folks blame MJ, KM, Seb, Petr, Max, Phil, NCAA, Mt Sac, Penn Relays etc. for the dismal state of T&F. In retrospect when ABC TV formalized Olympics sports club and had Congress pass the 1978 Steven's Sports Act, that split Hollywood TV and IOC revenue from the rest of the Olympics sports world. We got the bread crumbs. Hollywood TV and IOC got every bakery on the planet. That's the genesis of the finger pointing we have blaming each other for no revenue, no growth, wasting funds on conventions for big shots. Huge expenditures on social media, TV, and AI with no increase in TV Views nor streaming views.

Only 1 in a million ideas make it to pilots. And almost zero pilots make it to prime time. Steven's 1978 rid Hollywood, ABC,and IOC of useless garbage charities we now call USATF, World Athetics, etc.

Ever heard of paragraphs mate?

MJ needs to call DJT for the best advice on tactical bankruptcy.

That’s not going to happen, but if it did, in the event of a bankruptcy, the employees would be reimbursed before anything was paid to athletes. “Confiscated” is an odd word choice.

Banks don’t handle bankruptcies. In the case of GST, they probably aren’t even a creditor and if they are, they’ll be in line with the athletes.

It gets worse and worse. The Times is reporting that under Section 547 of the US Bankrupty Code, if GST files for bankruptcy, creditors who received payments over the past 90 days (which would include athletes) can be forced to repay those payments.

The Times is reporting that other creditors apart from World Athletics have refused GST's 50% offer.

thetimes.com

Athletes could be hit in pocket again if Grand Slam Track collapses

Matt Lawton, Sports News Reporter of the Year

Stars including Great Britain???s Josh Kerr, who are still owed millions, may lose what they???ve already been paid if Michael Johnson-led venture files for bankruptcy

Open link

If Michael Johnson has any brains at all (which he may not) he would wait until more than 90 days after he paid the athletes to declare bankruptcy.

He already looks bad enough only paying the athletes half of what he promised them. He would look even worse if the athletes were forced to repay the half they already received.

Theyn should have tons of money leftover because the staff worked for a bottle of water like all charity meetings.

Tactical bankruptcy is just a nice term for sh*tty businessman.

Not every sport is going to be the NFL, etc. plenty of people can watch a college football game and relive their Uncle Rico days but outside of the sprints running looks slow in person and even more so on television. To the average viewer watching someone run a mile/3k/5k on the track doesn’t look much different than the hobby jogger making them wait to turn into Starbucks as they run by

A loan default on a casino is different than the GST situation. Even in default, it generates operating income while GST has zero income even without debt. Lenders don’t want to take over the management of a casino so Trump had leverage to negotiate.

If this does go to court and MJ is forced to reveal all and it shows he knew he had not enough money to cover expenses movi g forward after Jamaica, isn't that some form of fraud?

Love to see it come back.

Have to get a legit investor though, not that liar Bill Ackman