Louis had hinted Ipswich might voluntarily drop divisions
Ipswich Witches have failed to find a backer to secure their place in speedway's Elite League.
A proposed deal with a sponsor to fund top flight racing at Foxhall next season has fallen through.
Director of speedway Chris Louis told the club's website: "It's a big blow but we are not the only Elite League club in a difficult position."
Ipswich will wait until the conclusion of the upcoming British Speedway AGM before making their next move.
The Witches have been
lobbying for an expanded Elite League all season
and will hope changes are made to the sport's divisional structure to entice a new sponsor.
The bottom line is that our future is currently out of our hands
Ipswich director of speedway Chris louis
"We go to the BSPA AGM on Thursday to find out what our future will be," Louis added.
"It could be either Elite or Premier League but we obviously don't want to consider it could be no league at all.
"However the bottom line is that our future is currently out of our hands."
The Suffolk side suffered a torrid 2010 campaign, winning just four out of 32 league meetings, and had to overcome Premier League outfit Newcastle Diamonds in a play-off to maintain their right to ride in the Elite League after finishing bottom of the table.
Star rider Scott Nicholls has also failed to commit his future to the club, stating he is "keeping his options open".
Suffolk lost its other speedway team earlier this year, when
the Mildenhall Fen Tigers pulled out of the National League
because of financial problems.