It sounds like a similar problem to this.....
[
www.grandprixgames.org]
I'm not sure what the cause is, but the solution is to try the track in different slots I'm afraid.
Run several non-championship races using accelerated time to test it when you have put it in a different slot, and see if it freezes -it's not a graphical issue. You need to do it several times, because sometimes for me it'll freeze the maybe the fifth time.
Some tracks just don't seem to work properly in certain slots on some peoples' computers