Mallory's owners have said a huge track day reduction would make the circuit financially unviable and that they have already slimmed down operations by shutting down motocross operations and reducing the maximum number of track vehicles on circuit at any one time and track times.
Mallory Park General Manager John Ward said: "The Council is deciding on the future of Mallory Park and if it agrees to reduce the days to 92 then the circuit is finished and will shut down. The 145 jobs and £10million+ benefit to the local economy will be lost, along with a historic motor racing circuit.
"The future of the circuit is now in the hands of the HBBC Councillors. We need them to understand we are working to reduce noise and improve life for residents and are committed to being good neighbours. Shutting the circuit is not the right choice. We need as many supporters as possible to join us on the 10th and make that point - Mallory Park is an important contributor and member of the local community."
* July 11 update
Latest news on Mallory Park is that the executive of Hinckley & Bosworth Borough Council, having studied the evidence of five alleged circuit noise breaches during August and September 2012, will press ahead to impose track restrictions. Court proceedings are schdeuled for August 15-16.
* July 11 latest update!
The owners of Mallory Park racing circuit and the Borough Council have agreed to meet in the next week in a bid to find an acceptable compromise to noise levels at the racing track that will safeguard the quality of life of residents and keep the valued attraction open.
Enforcement of the 1985 notice would still enable Mallory Park to operate throughout the year, but restrict the number of noisy days to 92. None noisy activity would still be allowed on up to 169 days per year.
Borough Council Chief Executive, Steve Atkinson said: “Everyone involved – the residents, councillors and the track operators - are keen to find a solution that will enable the track and the village to exist amicably side by side, as they have for many years. I welcome this speedy response from Mallory Park and I hope the preliminary meeting next week enables us to explore positive options which can then be discussed jointly with village representatives.”