After 17 years, Mazda has decided not to renew its naming rights to the world-famous Laguna Seca Raceway in Monterey Country, California. The agreement, which ends on March 31, will see a new naming rights deal be implemented by the time the 2018 racing season begins on May 3.

According to local newspaper, The Monterey Herald, Laguna Seca’s Board of Supervisors is considering a five-year, US$ 5 million naming rights deal with Illinois-based MacNeil Automotive Products Limited, also known as WeatherTech. The deal also includes an exclusive right to negotiate an additional five-year extension through 2027.

If the deal pushes through, the track will be named “WeatherTech Raceway at Laguna Seca.”

While the deal is worth just two-thirds of the Mazda one, officials say it’s comparable since Mazda’s deal with the circuit included track access and other amenities while the deal with WeatherTech does not. Furthermore, officials believe that the track’s involvement with a non-automaker will entice other automakers to get more involved in races and special events at the raceway.

Despite losing its naming rights, Mazda is set to continue to be a sponsor at the raceway at least until 2019.

Souce: The Monterey Herald