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John Ward, the general manager of the Mallory Park Motor Racing Circuit said: "We understand the residents' problem and we want to work with them, being a good neighbour. It'll be a great shame to lose events like this."
Gareth Owen spoke to people attending the Festival of 1000 bikes at Mallory Park this weekend.
This comes in the same week the circuit threatened to close after stricter noise restrictions were enforced by the council.
Thousands of people and 4,000 bikes were at the track today, making lots of noise.
Negotiations over the future of Mallory Park will continue next week as owners meet with the council to find a compromise to noise levels at the track.
At a meeting last night, members of Hinckley and Bosworth Borough Council agreed to continue with court action against the racing circuit for five alleged breaches in August/September last year of a Noise Notice issued in 1985.
Borough Council Chief Executive, Steve Atkinson said:
Owners of Mallory Park racing circuit in Hinckley in Leicestershire say the track could close as early as next week following the decision to limit the number of events each year to 92.
Hinckley and Bosworth Borough Council voted the restrictions through last night after the number of annual noise complaints from residents went up from eight in the fifteen years to 2009 to 153 in 2012.
Owners say the track, which has been operating since the 1950s, is now not financially viable.
Negotiations are expected to continue today.
Mallory Park race circuit is being taken to court and have been told they are only allowed to operate 92 'noisy' days per year.
It is after complaints from residents went up from eight in fifteen years, to 153 in 2012.
Hinckley and Bosworth Borough Council said that all parties had failed to reach an agreement.
The circuit are due in court next month over five breaches of the noise agreement which was originally put in place in 1985 but had not been fully enforced by the council until August 2012 because there had been 'no significant concerns' from residents.
It is hoped all parties will be back around the negotiating table tomorrow.
Councillors have voted tonight to allow only 92 'noisy days' a year at Mallory Park Racing Track in Hinckley in Leicestershire.
The leader of Hinckley and Bosworth Borough Council has said he still hopes all involved will come together to discuss the situation.
The future of a Midlands race track is hanging in the balance after years of complaints about noise.
Councillors are due to vote at a meeting this evening on whether to pursue legal action against Mallory Park in Leicestershire which has been in operation for more than 50 years.