Good news, race fans: the Baltimore Grand Prix may be returning this year, after all.

The IndyCar and ALMS race extravaganza was held last year over Labor Day weekend at the Maryland city's picturesque harborfront, but though the event itself was deemed a success, a financial dispute between the city and the race organizers jeopardized its future. The city ended up canceling its contract with Baltimore Racing Development LLC, but a new one is reportedly now being negotiated between municipal authorities and a new promoter, Downforce Racing – organizers of similar street races in Toronto and St. Petersburg.

The tentative arrangement was announced yesterday by Mayor Stephanie Rawlings-Blake, pending approval by the city's Board of Estimates, set to meet on February 22. If given the go-ahead, Downforce Racing would receive a five-year contract with a renewal clause for another five years, with the city's expenses to be recovered from ticket sales and a profit-sharing clause that would see the city receive ten percent of profits over $1 million.

Assuming everything comes together, the ALMS race will be held on Saturday, September 1 and the IndyCar race on Sunday the 2nd.

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