The Racing League Grand Slam circuit, which filed for bankruptcy earlier this month, owes Sydney McLaughlin-Levrone, Gabby Thomas, Melissa Jefferson-Wooden and four other Olympic medalists six figures in debt.
The league refiled its Chapter 11 bankruptcy forms on Monday, including a required list of its top 20 creditors.
advertise
McLaughlin-Levrone, a four-time Olympic champion and world record holder in the 400-meter hurdles, is owed the fifth-highest amount: $365,250.
Others include Kenny Bednarek, Josh Cole, Mariledi Paolino and Allison Dos Santos. Dos Santos and Jefferson-Wooden are each owed $190,625. The remainder is owed between $211,000 and $250,000.
Olympic gold medalist Michael Johnson formed the league by signing athletes, who receive salaries and appearance fees to compete in four events. They also compete for prize money at every race and compete in a season-long series that was cut short when the major circuit abruptly canceled its final race scheduled for June in Los Angeles.
The group also revised its estimated assets to $1 million to $10 million, rather than less than $50,000 as the original filing said.
advertise
The company said it owes between $10 million and $50 million to 200 to 999 creditors, with the largest debt of $3.036 million owed to the Momentum-CHP Partnership, a joint venture created for Alliance Television production.
“By adjusting its financial position, the league will be in a position to return with new initiatives in future seasons,” GST said in a press release announcing the bankruptcy last week.
___
AP Sports: https://apnews.com/sports