The company behind a £5m scheme to revamp an Anglesey racing track has said it will not go-ahead unless grant aid can be secured from Europe.
Superbikers could compete on the isle of Anglesey
The development would be run by Trac Mon on the Bodorgan estate at Ty Croes and would create up to 100 jobs.
The track would be used for Formula Three cars and super bike racing.
Planning permission has already been granted by Anglesey Council which is supporting the firm's application for Objective One European funding.
Trac Mon's Director of Operations Richard Peacock said the scheme which would extend the existing track by two miles was reliant on the Euro funding.
"We've already secured private funding but we do need the European money. Without that it cannot go-ahead," he said.
Anglesey Council's Head of Economic Development Huw Griffiths said the scheme would create 34 jobs in the short term and more than 100 over a longer period.
"This is an exciting project which will bring much-needed jobs," he said, adding he believed a decision on the scheme was imminent.
Work could start later this year so that the new circuit is ready in time for the 2006 racing season next spring.
However, concerns about the noise and disturbance which would accompany the operation have been raised.
The track operators have said the redesigned circuit will be quieter and more environmentally-friendly.