Tickets for the Grand Prix of Baltimore go on sale May 28 through http://www.RaceOnBaltimore.com and Ticketmaster outlets.

Race On and Andretti Sports Marketing will promote and operate the Grand Prix of Baltimore scheduled for Aug. 31-Sept. 2. The race contract was approved by a vote of the Baltimore City Board of Estimates May 16 and announced at a news conference in Baltimore.

"We're working under an aggressive timeline, but we're very pleased with the rapid progress being made on the logistical and business fronts," Grant said. "As the principal investors in the Grand Prix of Baltimore, Greg O'Neill and I are honored to support a world-class event for a world-class city."

Andretti Sports Marketing will provide all operations, sales, marketing, logistics and publicity efforts for Race On.

"We have an experienced and professional team in place that can build the Grand Prix of Baltimore into a premier sporting event," said Michael Andretti, CEO of Andretti Sports Marketing. "We've already seen tremendous interest in the event from fans and sponsors and the backing of strong local business leaders at Race On. We're all committed to make this a great event to benefit the city of Baltimore."

Click it: Listen to teleconference with Michael Andretti

Andretti said last year's successful inaugural race made it attractive to Andretti Sports Marketing.

"Being a participant and seeing what great response it had from the community and how many people were out there, and the track itself, the whole setting, it was just a great event," he said. "When we got the call from JP Grant, asking if we would get involved, we were asking 'Well, what's going on?'

"He said, 'Well, there might not be a race. And we're like, whoa, whoa, it's too important to our series to lose an event like that. So we decided to step in and have a look at it.  And the more we dug into it, the more due diligence we did, we thought we could come in and help make a difference, and that's why we're here.  We feel that this event has huge potential to be one of the biggest, if not the biggest street race in the world."

Kevin Healy will be the Managing Director of the Grand Prix of Baltimore for Andretti Sports Marketing. Healy, a 30-year veteran of the airline industry, is also managing director of Milwaukee IndyFest.