Take the panel off and get it repainted. Since it's a sports car, you might find a carbon fiber trunk and then me hip and fly. However, if it's like that on the trunk, I'm sure the hood is worse, unless the trunk has been repainted.
Repaint only. The clear coat looks totally gone within the white "ring".
The bumper looks oxidized quite a bit too. Better check that (and maybe the rest of the car too....) for signs of clear coat failure while you're at it.
I had always wondered if it was a testament to auto care that some of the darker colored Japanese cars from the 90's have awful clearcoat failure and some look perfect (I'm lookin' at you Jngrbrdman). My brother's girlfriend has an older Civic in blue and the roof and trunk are starting to go. However, some Civics of the same color look great in town. Go figure.