PALM BEACH COUNTY, Fla. (CBS12) -- A legendary landmark for South Florida car lovers could soon make a comeback. A passionate group of motorsport enthusiasts is pushing to bring back the historic Palm Beach International Raceway, a move they say would save time, money and memories but there are still a few missing pieces to the puzzle.

The RPM group says reviving the location would be a lot cheaper than building a new racetrack from scratch. The only problem now, is securing that last bit of funding, so they're turning to the community for help.

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Efforts to bring back Palm Beach International Raceway are in full swing and the plan is to make it better than ever before. For nearly 60 years the PBIR was a mecca for motorsports, hosting everything from drag racing to drift battles.

In April 2022 racers were forced to take their final lap leaving local car enthusiasts in a bind and compromising safety.

RPM Group Vice President Tim Moceri weighed in on the importance of the raceway.

"There is also elements of the car community that have created these takeover events where they do these massive burnouts and it's pretty much a riot inside of cars and it's been created out of a vacuum," Moceri said. "Because these people don't have anywhere to safely go and engage in these activities with their cars."

Earlier this year the raceway property hit the market at $60 million. The RPM group said it is dedicated to purchasing the facility and reviving the raceway.

The group has teamed teamed up with west architecture producing this site plan which includes everything from driver condos, garages and even a clubhouse complex.

"We're doing everything in our power to be able to buy this facility and bring it back to its former glory and actually improve on it tremendously," Moceri said.

The group is currently in the final stages of fund raising but says in order to make this dream a reality they'll need some partners including investors and real estate developers.

Eric Bentley is the president of the RPM Group he said they've already put together investor decks.

"We're very very hopeful that we'll be able to close a deal on Palm Beach International Raceway," Bentley said. "My team and I have put together a brand-new investor deck. if you're interested in the deck itself, if you consider yourself someone who would be interested in investing and being a part of this project we would love to hear from you."

If you're interested in joining efforts to bring back the raceway visit the RPM Group's official website for additional details and contact information.

Could Palm Beach International Raceway make a return? RPM Group seeks investor support