The eruption of Mount Pinatubo in 1991 led to the United States abandoning their base in Subic. The Subic International Raceway was established at the site of the former Naval Air Station Cubi Point's refuelling area for fighter jets. Former Filipino race car driver Pocholo Ramirez with the help of other figures in Philippine racing including Mandy Eduque, Mike Potenciano, Macky Carapiet, Louis Camus, Freddy Masigan set up Sports Values Incorporated (SVI) so that they could convert the existing paved roads and taxiways into a racing circuit.