Rich Perelman exclusively has the details.
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.
