The Barbagallo circuit's facilities are considered woefully inadequate by V8 officials, who believe the sport may be better off with a "ground zero" approach in a different WA venue.

"By this weekend we hope to have a far better understanding of what might be possible and what might not be possible," V8 Supercars chief executive Wayne Cattach said.

V8 bosses have already ruled out any prospect of a Perth street race.

If talks don't go well, Perth could find itself on V8 calendar life support like Sydney.