Canberra Bulls Speedway Club is seeking support to bring a round of the speedway world championship to the capital.

A successful Auckland grand prix - the only event outside Europe this season - last month convinced fans of the high-speed motorcycle sport that a profitable event should be staged in Canberra.

The New Zealand round attracted 20,000 fans and was telecast live to millions across western Europe and the United States.

Canberra Bulls Speedway Club president John Walker said Canberra couldn't get that sort of publicity with any other sporting event.

Mr Walker said Auckland cost about $2 million to stage.

''The majority of the cost was getting the riders and their entourages from Europe,'' he said.

''But bringing them to both Australia and New Zealand would decrease that figure.''

The Queanbeyan resident said the event would also boost the ACT tourism and hospitality industry during the slow autumn period. And the concept has attracted some heavyweight support, including Formula One star Mark Webber.

Mr Walker is in the process of constructing a business plan outlining the cost and financial returns of hosting the event.

He hopes the plan will swing ACT government support behind the cause.

But ACT Sports Minister Andrew Barr doubted the territory's ability to host the niche event.

''The cost to bring this event to Canberra, including the installation of a temporary track and safety infrastructure would be a significant investment requiring high spectator numbers to ensure financial viability,'' Mr Barr said.

''Therefore, any venue would require at least 10,000 to 15,000 seats.

''Canberra Stadium is the only venue in Canberra capable of accommodating those spectator numbers [and] the playing area within Canberra Stadium would likely be too small to fit a speedway circuit.''

But Mr Walker disagrees.

A Welsh round of the world championship is held at Millennium Stadium, known as the home of rugby, in Cardiff.

''If you can do it at Cardiff, you can do it at Canberra Stadium,'' Mr Walker said.