BALTIMORE, MD (February 10, 2011)—Mayor Stephanie Rawlings-Blake made the following statement regarding the future of Motorsports in Baltimore:
“Today, the City of Baltimore is announcing its intent to enter into a 5-year agreement with a motorsports promoter to conduct racing events on the streets of downtown Baltimore on Labor Day weekend 2012 through 2016.
“The City is in the process of finalizing the details of the agreement and plans to publicly present the terms and contract on Wednesday, February 15, 2012, pending final internal review. Following an open and transparent public review period with city stakeholders and community groups, the final contract will be presented to the Board of Estimates on February 22, 2012 for a vote.
“Last year’s racing event generated $47 million in economic impact and proved very valuable in terms of positive media exposure for Baltimore. We have worked hard to learn from past experiences to ensure that this new agreement is in the best interests of taxpayers and will bring a successful, world-class sporting event that Baltimore can be proud of for years to come.”
The City will have no further comment on the contract until Wednesday, February 15, 2012, pending final internal and legal review.