By alley - Sep 15, 2015, 5:16 PM ET

INDUSTRY: ISC declines Mazda Raceway Laguna Seca management opportunity

More than a year of discussions between the Monterey County Board of Supervisors and International Speedway Corporation (ISC) regarding a management takeover at Mazda Raceway Laguna Seca has ended.

RACER has confirmed through multiple sources that ISC declined the opportunity to submit a formal proposal to promote and manage the renowned road course. RACER has also confirmed SCRAMP, the non-profit organization that has operated the circuit for 58 years, was asked to submit a proposal by the County prior to ISC's withdrawal.

ISC's exit, which wasn't entirely unexpected, could force the County and SCRAMP to continue working together out of necessity, rather than by choice. Based on

numerous actions and comments from the Board relating to SCRAMP

, both sides would need to work towards mending their longstanding relationship before continuing their partnership.

Based on an update provided in Wednesday morning's edition of the Monterey County Herald newspaper, it's also clear the Board intends to continue its search for management options in addition to SCRAMP.

"I'm actually glad to see it go this route," said Board Supervisor Dave Potter in an excerpt taken from the Herald's report on Tuesday's Board of Supervisors meeting. "This is what SCRAMP asked for. We have no opportunity for newspaper ads. Our opportunity is in a public process. Now we have an opportunity for a national or even an international raceway manager search. Be careful what you wish for."

The rejection from ISC also sends an interesting message to potential suitors interested in taking over Mazda Raceway Laguna Seca on behalf of the County. ISC spent considerable time performing due diligence on the topic and is known to have looked at the earning possibilities as a for-profit business. As the biggest name in race track promotions, ISC's choice to step away from the opportunity could serve as a deterrent to any other promoters considering a bid to replace SCRAMP as the overseers of the iconic property.

It's believed the Board has asked SCRAMP to file its proposal to continue running MRLS by the end of September.