Agile Manager Workspaces and ALM

We are working to sync ALM and Agile Manager.  We created a workspace (TEST) however we did not create filters before synching the data.  The synch resulted in 16,000 records coming into the Agile Manager TEST workspace.

We were advised to create a new workspace.  Since we are only allowed 10 workspaces, we want to know if we can delete the workspace and if so, will we get that space back?  It's been tough trying to find information on this.

Thank you!