The sad and shock news has been announced that 2011 K O Cup winners Newport are withdrawing from the 2012 Premier League.
With just four weeks to go before the season officially opens the club has made the announcement following the late loss of the ground sharing with Trojan International who were introducing car racing to the Queensway Meadows circuit in 2012.
The subsequent loss of income from that venture coupled with the recent disputes with the BSPA over the team declaration and lack of communication over the affair has left the promotion in a position they see as being their only option.
The income from the car racing was factored into the speedway business plan for 2012 and along with several unpaid financial pledges it has left the club in the position of having to pull the plug on the sport at the venue.
Dejected co-promoters Steve Mallett and Peter Mole are totally gutted at having to reach this decision and having to inform the riders that they no longer have team places for the 2012 season.
Talks had been on-going with several parties interested in taking over the club but unfortunately nothing has materialized on that front to save the club.