Onchan commissioners say they don't want to buy assets belonging to the company running the town's raceway.
At its last board meeting, the local authority heard a new tenancy agreement had been offered to Onchan Raceway Ltd, which leases the facility on Birch Hill Avenue.
Members heard that would involve commissioners providing money to solve drainage issues and maintaining the seating area in the timber stand.
But the board also heard the company wanted to leave the premises because it couldn't agree the new contract.
In a response posted on Facebook, Onchan Raceway said it does not want to leave the premises or stop running events there.
A spokesman added it had suggested the Commissioners buy its assets should the operators ever be 'forced to leave' the site, so the local authority itself or any future tenant could keep using it for motorsport.
Evening closures planned for Richmond Hill work
Island falls from third to tenth in traveller-voted awards
Lifeboat station saddened as vessel prepares to leave
Appeal after M&S car park hit and run
Emergency road closure in Tromode tonight
Hair salon pays tribute to beloved feline visitor
Three TT tenders for Union Mills hall
GSC working to take fake gambling sites down