Enthusiasts have spent months building ramps and tracks in woodland owned by steel firm Corus near Holwell Sports and Social Club, Asfordby Hill.
Dozens of adults and youngsters are using it for North Shore – a type of off-road mountain biking – but two weeks ago the company was tipped-off and its future is in jeopardy.
North Shore enthusiast and resident Dave Braithwaite said it would be a shame to see the track dismantled as it has become a valuable facility.
He said: "North Shore originates from Canada and courses are springing up all over the country. Local lads started building and it's been going on for five or six months with people adding to it bit by bit."
Dave is among riders who want to organise insurance cover so that the company would not be blamed in the event of an accident, hopefully saving the track from potential destruction.
He said: "Someone from Corus came to look at it and said two to three weeks and it could be knocked down. I understand where they're coming from but we want to get things moving forward and try to sort something out so the company aren't liable if someone is injured.
"They've got to say they're accountable but we'd just like a bit more time to get things organised."
Such is the popularity of the course that North Shore riders are travelling from as far as Nottingham and Birmingham to try it and a website has dedicated pages to it.
The site covers around 500 sq m and is an impressive network of ramps and tracks made from begged and borrowed wood and metal.
But some local residents have said they would be glad to see it go as motorbikes are often heard at the site.
Heather Taylor, secretary of Holwell Sports and Social Club, said: "It's clearly not just kids. The construction is far too advanced. It's amazing really. We've been in touch with Corus a few times because some of the ramps look very dangerous and kids could injure themselves. Motorbikes are also often heard there."
A Corus spokesman remained tight-lipped on what would eventually happen to the track, saying: "I can confirm the land belongs to us and we're looking at future options as to what to do with it. We are aware of the bike park there but all we want to say is we are still in the process of looking at what might be done."
Anyone with information or suggestions on insuring the site is being asked to contact riders via e-mail at www.moutainbikerides.co.uk