Key 48 hours for Ebbw Vale's £350m Circuit of Wales plan
The proposed £350m Circuit of Wales which would have brought 6,000 jobs to south Wales, could collapse if a deal is not agreed in the next 48 hours.
It was hoped the Ebbw Vale track could bring thousands of bike fans for motor sport events like the MotoGP.
Insurance giant Aviva is the financial backer with the Welsh Government asked for about £30m in loans.
The Welsh Government said no decision had been taken.
A spokesman added: "We have provided £2m of grant towards the development of the Circuit of Wales project in Blaenau Gwent to date.
"Any further Welsh Government support is conditional on the company securing an appropriate and viable funding package for the project."