Leicester Lions are looking into entering the Elite League next season.
Leicester, who are currently one step below the top flight in the Premier League, only returned to the sport two years ago after a 28-year absence.
But they finished in the top six and secured a spot in the play-offs - which begin away against Somerset on Friday.
Team manager Glyn Taylor told BBC Radio Leicester: "We certainly have to look at it. We have to look at the numbers. The Elite League is very expensive."
Lions remained unbeaten at home in last season's league campaign and showed a huge improvement on a difficult first season which saw them languishing towards the bottom of the table throughout.
But the fans continued to back the team and have been rewarded with a place in the play-offs.
Following Friday's away trip, Newcastle visit Beaumont Park on Saturday.
Whatever the outcome this weekend, Taylor said the club have the facilities, infrastructure and support to seriously consider applying to race in the Elite League.
But the key decision will boil down to finances.
Taylor added: "Because there are not a lot of British-based riders, it's not only the riders' wages which have to be considered but the add-ons with flights, insurance, travel and all the rest of it.
"But it is very exciting. If we do it, it will be really good but we won't half do it. If we are going to do it, we will do it properly."
Lions co-promoter David Hemsley told BBC East Midlands Today: "People in the speedway world now know that Leicester are a serious team.
"Last year was very much a learning year."