Boston IndyCar Race Organizers File For Bankruptcy

BOSTON (CBS/AP) — The organization that unsuccessfully tried to bring an IndyCar race to Boston has filed for bankruptcy, saying it has almost $9 million in liabilities and about $60,000 in assets.

Boston Grand Prix said in its bankruptcy filing Tuesday that its liabilities include more than $1.5 million owed to people who bought tickets for the race, which was supposed to be held over the Labor Day weekend.

Massachusetts Attorney General Maura Healey's office has suggested considering a lawsuit against the organization to seek refunds for ticket holders.

"Boston Grand Prix's bankruptcy filing today does nothing to prevent us from our continued efforts to find out where the money ticket holders spent has gone and to aggressively pursue a refund for those consumers," the attorney general's spokeswoman Cyndi Roy Gonzalez said in a written statement. "We will continue to seek information from all parties involved and take whatever action is necessary to get the money back for those who purchased tickets."

The tickets went on sale in March, but the race was canceled in April with organizers saying the city was making unreasonable demands. City officials, in turn, said the race course group was disorganized.

Creditors include several former sponsors of the race and the Indianapolis-based national IndyCar organization, which says it is owed $4.2 million.

Boston Grand Prix said it filed for bankruptcy with "deep regret."