It can be very helpful to research other people's photos in advance. I found some photos from the Club Corner
here. You might find some photos on Flickr or elsewhere that have focal length information included. If they used a DSLR with an APS-C sensor, that's the same framing and image size you'll get.
You can get some practice before the race starts with preliminary events and parade laps. That should help you set exposures in advance and practice panning.
One frequent issue with locations like this is the fence. The autofocus will see the nice steady fence instead of the fast-moving race car, and lock on to the wrong thing. Since the fence is extensive, you can't avoid it by selecting another AF point. Some sort of manual focus is the best option. The racing line won't move a lot so you can pick the best point in advance, focus, turn off AF, then fire when the car gets to the right spot.