International Speedway Corp. will not take over Mazda Raceway Laguna Seca, the Monterey Herald reported Wednesday.
According to Monterey County Supervisor Dave Potter, ISC declined to make a proposal on the track, a 2.238-mile, 11-turn road course located in south central California.
The announcement came during a 90-day due diligence phase undertaken by ISC and the county. ISC had not offered to comment to the Herald.
The track had struggled in recent years with its finances and even lost a marquee MotoGP race not long ago. The Sports Car Racing Association of the Monterey Peninsula (SCRAMP), which has managed the track since 1957, has been operating the track on a monthly basis while the county looked for a different managing partner.
When news broke last month that ISC was entertaining the possibility of managing the track, Potter was quick to say that the deal, reportedly a three-year contract, did not come with the stipulation that the Sprint Cup Series would race at the track.