The Baltimore Sun reports that organizers of the Baltimore Grand Prix are awaiting a vote from shareholders on a proposed company takeover that could save the race from bankruptcy, at the cost of significantly diluting their ownership of the event.
More than two-thirds of shareholders have voted in favor of the plan, in which former Goldman Sachs and Constellation Energy executive Felix J. Dawson would assume leadership of Baltimore Racing Development Inc., the company that ran the Baltimore GP, according to sources with knowledge of the deal. But investors must still ratify an operating agreement between the parties, and the company's five managers must approve a contract with Dawson, the sources said.
Baltimore was confirmed on IndyCar's 2012 schedule on Thursday.