LawFuel.com – DLA Piper successfully represented Baltimore Racing Development (BRD) in a five-year agreement with the City of Baltimore approver by Baltimore City’s Board of Estimates to allow for an IndyCar® ‘Baltimore Grand Prix’ race. Paul Tiburzi, managing partner of DLA Piper’s Baltimore office, serves as legal counsel to BRD.
The City Board of Estimates, led by Baltimore Mayor Stephanie Rawlings-Blake, approved the development deal in a May 5, 2010 vote and the Indy Racing League (IRL) is expected to sign a sanctioning agreement by the end of May. The course would run in a loop around downtown Baltimore, passing by the iconic Inner Harbor and Oriole Park at Camden Yards. The inaugural race is scheduled to be held in August 2011 and would be IRL’s first in the mid-Atlantic region.
“It was an honor to represent BRD in advancing this important initiative, which will generate millions in revenue for our city and increase Baltimore’s global exposure,” said Paul Tiburzi, managing partner of DLA Piper’s Baltimore office. “I am proud that DLA Piper is home to the best sports business lawyers in the country and has the experience and depth to advise clients on the complex issues involved in such substantial sports development projects.”
An Economic Impact Report prepared by BRD estimates the race will create nearly 2,000 full-time equivalent jobs, inject $250 million into Baltimore’s economy and generate $11 million in tax revenue over a five-year period.
“Paul is well-recognized in Baltimore as a pre-eminent sports lawyer and has been an invaluable resource in our efforts to make the Baltimore Grand Prix a reality,” said Jay Davidson, President of BRD. “As our legal counsel, Paul has been involved in this project since its inception and has been a driving force in bringing the race to the streets of Baltimore.”
Tiburzi’s successful representation of BRD is the latest example of DLA Piper’s commitment to expanding its already strong global sports practice. In May 2010, the firm announced the addition of a team of leading sports business lawyers to its New York and Washington, D.C. offices. Partners Peter White, Charles Baker, Mark Whitaker and Katie Baynes bring a diverse practice with an emphasis on financings, mergers and acquisitions and other complex transactions involving sports, media, entertainment and infrastructure properties.
At DLA Piper, Tiburzi focuses his practice on public law, sports law and administrative litigation matters. He has extensive experience representing professional sports teams on political and financing issues related to the development and use of stadiums and sports venues. Tiburzi served as chairman of the Camden Yards Sports and Entertainment Commission (CYSEC) in 2007 and 2008. CYSEC works to expand the use of the Camden Yards Sports Complex and generate additional revenue through various events and activities.
About DLA Piper (www.dlapiper.com)
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Laura Miller, Media Relations, Greentarget, 312.252.4104
Ashley Yahn, Media Relations, Greentarget, 312.252.4112