MILDURA Speedway Drivers Club is "desperately waiting" to hear if it has secured the funds needed to restart racing at its Timmis Speedway venue.

The club stunned the motor racing community in July when it announced the suspension of racing ahead of the 2022-23 season.

Project co-ordinator Jarod Waters said for racing to restart at the venue, the club required almost $500,000 to upgrade the ligh...