Baltimore Grand Prix collapsing under weight of debt?
The trouble, it seems, is between Baltimore Racing Development, which organized the event this past Labor Day, and the city in which it was held. Apparently BRD failed to pay all that was required by the municipality, and now city officials are demanding it pay up or get out of town.
According to reports, organizers owe city coffers some $1.5 million for services rendered, taxes and other expenses. Combined with the estimated $1.8 million it owes third parties, the Baltimore Grand Prix is looking at a huge debt that could take years to pay off, but if it doesn't get the chance to hold the remaining four races for which it's contracted, that debt could prove insurmountable.
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