I'm not trying to be an ass here, but maybe supporting this guy with a little bit of what he asks would be best instead of telling him that he has the wrong section. If I had just joined and saw these kind of replies, I would probably never come back. Generally, if you give a man a fish, he will eat for a day. If you teach the man to fish, he will eat for a lifetime.
To abulnass:
I don't believe there are any released scripts that provide a race environment to date, but I could be mistaken. When you are scripting you will find there are tons of abilities at your disposal that the mod provides. If you need help with anything scripting related that the LU wiki doesn't provide enough information for, then feel free to post in the "Scripting Help" section.
As for tips on creating the race mode, you could probably talk to Vetal through the forum's messaging system. He has made a really neat racing script and I enjoy playing on it every now and then.