It costs money to be bankrupt. GST spent $617,935 in January

rojo wrote:

Rich Perelman exclusively has the details.

Link:www.thesportsexaminer.com/panorama-ioc...

Rich Perelman wrote:

It costs money to be bankrupt. That’s the message from the monthly statement filed with the U.S. Bankruptcy Court in Delaware for the ongoing Grand Slam Track proceedings, showing $617,935 spent in the month of January 2026.

Most of the money – $440,000 – went to lawyers Levene, Neale, Bender, Yoo & Golubchik, L.L.P. in escrow, with another $25,000 to Freeman Advisors and almost $90,000 for payroll and medical insurance.

Grand Slam Track received $1 million of the $2.305 million loan available from Winners Alliance for bankruptcy support to pay for all of this, and now has a total indebtedness of $41.68 million.

The next step is consideration of a proposed reorganization plan that would pay athletes about 85% of what they are owed and almost nothing to the unsecured vendors and suppliers at a hearing on 12 March 2026.

MJs PR Spokesperson wrote:

“Some of you may be concerned about significant sums spent on legal fees for the GST organization while you await prize money and vendor payments. Much like the hard work you put in during the off-season, the results may not be visible today, but these court proceedings are laying the foundation for an incredible 2nd season of Grand Slam Track. We remain confident that our investors will hold up their end of the deal to our incredible athletes and vendors. Following the resolution of these clerical accounting matters, we’re excited to share even bigger plans for Season 2. The athletes, vendors, and fans who helped bring the first season of Grand Slam Track to life are at the heart of everything we do, and we can’t wait to see all of you bring your best to an exciting, invigorating, and spectacular Season 2!” -Michael Johnson (probably)

rojo wrote:

Rich Perelman exclusively has the details.

Link:www.thesportsexaminer.com/panorama-ioc...

Rich PerelmanEggy Car wrote:

It costs money to be bankrupt. That’s the message from the monthly statement filed with the U.S. Bankruptcy Court in Delaware for the ongoing Grand Slam Track proceedings, showing $617,935 spent in the month of January 2026.

Most of the money – $440,000 – went to lawyers Levene, Neale, Bender, Yoo & Golubchik, L.L.P. in escrow, with another $25,000 to Freeman Advisors and almost $90,000 for payroll and medical insurance.

Grand Slam Track received $1 million of the $2.305 million loan available from Winners Alliance for bankruptcy support to pay for all of this, and now has a total indebtedness of $41.68 million.

The next step is consideration of a proposed reorganization plan that would pay athletes about 85% of what they are owed and almost nothing to the unsecured vendors and suppliers at a hearing on 12 March 2026.