The Dennington couple has attended every classic at Premier Speedway but is understanding of the decision to park the event in 2021 due to coronavirus uncertainty.

The club on Thursday night announced its decision to postpone the 49th edition until 2022.

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Jean, 76, and Charlie, 80, are foundation members who have faith in the path general manager David Mills has taken.

"If anybody could make it work, David Mills would," Jean said.

"But he won't put anybody in danger, I know that. He's that type of person.

"He's a good figurehead. You go to a meeting and he could tell you everything off the top of his head about what is happening."

The sport is a major part of Jean's life.

"I'd just love to go to a speedway meeting tomorrow night," she said.

Jean said Stewart Owen, 93, was another long-time supporter who would miss the world-class event, which runs across three nights and attracts 10,000 people for its Sunday finale each year.

"Last year it was the only speedway meeting he got to, he'd decided the time had come when he should be getting home to Lyndoch (aged care) a bit earlier," she laughed.

"He hasn't missed a classic. The last few years I have taken him, he's always been there to see it."

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Jean hopes she can take Stewart to a special one-off event in January designed to replace the classic and celebrate five decades at the Allansford track.

Premier Speedway is planning a 50 For 50 event to run on January 22 and 23, if it's permitted to have 2000 fans and 500 people in the pits at a minimum.

It would include a 50-lap A-Main on the Saturday night. It's anticipated up to 60 cars would compete in the two-night show.

Darren Mollenoyux is one driver who would commit to the replacement race.

The Warrnambool-based competitor supported the club's decision to scrap the three-night classic, which attracts up to 100 drivers from Australia and the USA, for 2021.

"I think it was inevitable. We all know what it takes to run an event like that and if you can't have a crowd there to generate income, it's clearly not viable," he said.

"The classic has always had American drivers and the best of everyone from all around Australia so if that's not an option due to travel restrictions, it would be a shame to run one on a half scale."

Mollenoyux, who finished second in the 2017 classic, praised Premier Speedway for its thoroughness in a tough situation.

"They are doing their best to put on another race in its place for now and time will tell whether it happens or not," he said.

"Our team is ready to race when the go ahead is given. Premier Speedway always knows how to put on an event and it still carries some pretty decent prize money."

Fellow Warrnambool driver Corey McCullagh would also embrace the 50 For 50 challenge.

"I am pretty excited they have plan B and C in place so at least we might be able to do some racing," he said.

"It's not just a little shuffled round meeting, it's actually 50 For 50. I think it's a bloody unreal concept and something we're keen for."

McCullagh won the 2018 classic and wanted the club to maintain its esteem.

"It's definitely the right call (to cancel the 2021 classic). I think Premier Speedway have handled it pretty well actually, it is obviously a tough decision but with what we're all living with at the moment it is no surprise," he said.

"You see what Knoxville did in America with the COVID stuff, it all sort of went pear-shaped so I am glad they (Premier) re-shuffled it back. With no Americans, it wouldn't feel like the biggest race in Australia."

McCullagh said he hoped restrictions would ease to give drivers a chance to hit the track regularly next year.

"Hopefully the back-end of the season we can jam more races in and make the Easter trail one of the biggest and the best," he said.