In 1969 the track was sold to Filmways Corp., a Los Angeles-based entertainment company for $4.5 million. In May 1970 the track was closed and became a tax shelter for Filmways after losses of $300,000 were reported. Hugh Harn of Belvedere and Parker Archer of Napa arranged to lease the track from Filmways in 1973. Bob Bondurant, owner and operator of the Bob Bondurant School of High Performance Driving, and partner Bill Benck took over management and control of the leased raceway from Parker Archer and Hugh Harn in 1974. A few years later a group calling itself Black Mountain Inc., which included Bondurant, William J. Kolb of Del Mar and Howard Meister of Newport Beach, purchased the track from Filmways for a reported $1.5 million.