What does this mean to the 2012 Baltimore Grand Prix?

http://www.bizjournals.com/baltimore...izers-hit.html

All together, Baltimore Racing Development owes the city more than $1.5 million, the Maryland Stadium Authority around $520,000 and is facing a handful of lawsuits from unpaid vendors and lenders alleging the company owes them more than $1.5 million, too.
http://espn.go.com/racing/indycar/st...-prix-contract
BALTIMORE -- Officials threatened Monday to terminate the city's five-year contract with organizers of the Baltimore Grand Prix if the group doesn't restructure and pay its debts to the city and vendors.