My point is, for the street your only option is to pay insurance for the full year. For track, you can determine how many track days you want to do. Using your $300 example, you could do 1 for $300, 2 for $600, etc depending on what your cash flow allowed. If the bike is paid for, and you choose to do none, then it costs you a total of $0 for that year (well maybe $100 since you'd likely want to change oil and potentially other fluids at least once a year). Granted, he did say he needs some work done on the bike, so there would likely be other costs to make it track-worthy.
Unless you are still paying off the bike or need the money, you'd end up better off keeping it for now, vs selling and then having to buy another bike...unless you figure you'll want a different track bike in 5 years time.
