You Tell Us: Will the New Grand Prix Agreement Work?

Mayor Stephanie Rawlings-Blake announced a new five-year agreement with Downforce Racing to keep IndyCar and American Le Mans racing in Baltimore during Labor Day weekend through 2016.

The deal is subject to a review period and the Board of Estimates will vote on whether or not to approve the contract on Feb. 22, according to a news release.

Last year's Baltimore Grand Prix was the first event held in the city. The races—which were held on downtown streets—drew thousands of spectators.

“Last year’s racing event generated $47 million in economic impact for Baltimore and proved very valuable in terms of positive media exposure for our city. We have worked hard to learn from past experiences to ensure that this new agreement is in the taxpayers’ best interest and will bring a successful, world-class sporting event that Baltimore can be proud of for years to come,” Rawlings-Blake said in a news release.

However, the races original organizers, Baltimore Racing Development, were unable to meet financial obligations to the city, and the five-year contract with the city was terminated in December. 

The controversy regarding the race heated up again earlier this year when City Council President Bernard C. "Jack" Young wrote an op-ed in the Baltimore Sun announcing that he no longer supported bringing the race back.

Will the new Grand Prix Agreement Work? Tell us in the comments.