Instead of trying to figure out how to create a new class and treat them right, why don't you start by treating the people who already support you right.
A good modified cost more money than a good sprint car now days. There are guys selling their USED mods as rollers for $16,000 and then selling their used engines for over $18,000. Then they run for $100 to start and $600 to win most nights. They need to be running for closer to $1000 to win and $200 to start. Do that and watch the mod class take off.
Also the hornets are running for pennies. I know it is a very low budget class, but some tracks pay less to start for the hornets than they charge the driver for a pit pass.