Nicholas Griner | Staff
The inaugural 2011 Baltimore Grand Prix race last Labor Day weekend.?
The former organizing group of the Baltimore Grand Prix has paid off its debts to the Maryland comptroller?s office.
Baltimore Racing Development, the group behind the 2011 race, paid the state $569,488 in back admission and amusement tax and sales tax, as well as for interest and penalties. The state comptroller?s office filed a lien release Thursday morning on members of the group?s assets, said Caron Brace, a spokeswoman for Comptroller Peter Franchot.
?The orders of satisfaction were filed this morning,? Brace said. ?The liens will hopefully be removed soon.?
BRD had previously paid off its debt of $23,838 in sales tax to the state. The group owed another $545,649 in admission and amusement taxes.
The city cancelled its contract with BRD on Dec. 30 after the group accumulated mountains of debt and failed to pay vendors.
The 2012 Grand Prix of Baltimore is set to run Aug. 31 to Sept. 2. Andretti Sports Marketing was chosen by the city on May 10 to organize this year?s race. Race On LLC, comprised of J.P. Grant and Gregory O?Neill, are the financiers behind the event.
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