DEVELOPMENT of Tailem Bend Motor-sport Park remains on hold as its operators wait for the green light from investors, including the State and Federal governments.
Motorsport Park spokesman Tim Siebert said two individuals had expressed an interest in the project in the past two months, both of whom he understood to have "significant financial capacity", but negotiations remained at an early stage.
The State Govern-ment is waiting on advice from the Confederation of Aust-ralian Motor Sport (CAMS) before committing any public money.
A spokesperson said the Government had asked the confederation to evaluate the viability of several proposed motor racing venues that were currently on the cards.
"Once CAMS has consulted with each of the venues or consortiums it will prepare a report for the Government which will guide future decisions on investment," the spokesperson said.
"Engaging CAMS to consult each venue consortium ensures everyone has an equal opportunity to present their case."
The Tailem Bend Motorsport Park is currently leasing land from the Coorong council on a month-by-month basis while the two parties finalise a longer-term deal to replace an agreement that expired on June 30.
Mr Siebert said the tentative agreement on a lease extension had allowed the park to continue operating.
"The council have said they'll extend the lease and we're maintaining our business," he said.
"We've got bookings up to December."