Through more regular head-to-head showdowns between the world's fastest men and women, Grand Slam Track aims to intensify competition and rivalries between athletes who might otherwise rarely meet - to benefit them and fans.
As an ex-competitor, Johnson also wants to ensure athletes are appropriately rewarded financially. In addition to a $12.6m (£10m) prize pot, 48 contracted 'racers' will receive a base salary to compete at all four slams.
How will it work? At each slam the racers are joined by 48 challengers in one of six groups of men and women - they are short and long sprints, short and long hurdles, and short and long distance - with each athlete running in two events.
Athletes receive points for their finishing position in both races. The combined results determine each slam's champion - and the recipient of $100,000 (£79,500).