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IRG Sports and Entertainment sent a statement Friday morning in regards to the deal falling through to sell the property:

“We want to be clear that the future of the property remains the same: it will be developed for logistics and distribution use, with a process underway to choose a new developer. The track is closed and will not be reopening. When completed, the development will provide much needed logistics infrastructure, a stronger commercial tax base, and a significant increase in employment opportunities.”

The sale of the former site of the Palm Beach International Raceway appears to have hit a roadblock.

The state Department of Environmental Protection and South Florida Water Management District both confirm that the potential buyer of the property, Portman Industrial, has withdrawn its applications for permits.

Stay informed: Local coverage from WPBF 25 News

That indicates their deal to buy the property is off the table.

“I jumped for joy,” said racer Rey Alonso.

“I’m pleased with the outcome so far,” said another racer, Madelyn Marconi.

Marconi grew up racing at the track.

They have both been vocal in their desire to keep the track open.

“I want our track for Palm Beach County so that our youth have a safe place to go,” Alonso said.

“The hope is always there that it stays a racetrack,” Marconi said. “That’s always been what people in the community have wanted.”

It’s not clear what will happen with the property now.

Related: Palm Beach International Raceway closes after final races

A representative of Portman Industrial declined to comment on any facet of the deal or whether they may submit another offer.

Repeated attempts to reach the owner of the track, IRG Sports and Entertainment, were unsuccessful.

For now, the future of the property remains unknown.

And the dream of those who want it to stay a racetrack remain alive.

“There are a lot of people who want to see it stay a racetrack,” Marconi said. “So, it’s really going to take maybe one person to spark a phone call.”

“And bring up an offer which IRG will entertain, and we can go back to what we’ve had for 50 years here in Palm Beach County,” Alonso said.

One thing that does appear to be certain is a former prospective buyer will not be making another offer.

Previous coverage: Palm Beach International Raceway set to close this weekend after holding final races

Formula Race Promotions had tried to buy the property with plans of keeping it as a racetrack, but a spokesperson for the company said they were now focused on opening a track in Martin County.

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