Rick Frost unsure on Peterborough Panthers future

Peterborough Panthers' future is hanging in the balance, according to the team's owner Rick Frost.

Having opted to leave the Elite League, the Panthers have now applied to enter either the Premier or National League.

Their fate will now be decided at a British Speedway Promoters' Association meeting next Tuesday (7 December).

"I'm not confident at the moment. The decision rests with the BSPA, they're well aware of the situation," Frost told BBC Radio Cambridgeshire.

"That decision's out of our hands. I've indicated that is what I'd like to do and am prepared to do but it is a decision of the BSPA.

"They'll say either 'we'll admit you to Premier or National League' or they'll say 'no we won't admit you'."

Peterborough, along with reigning champions Coventry Bees, have both pulled out of the Elite League.

We're effectively running a business on a shoe string with the help of lots of super supporters who give their time voluntarily

Peterborough Panthers owner Rick Frost

The Bees have yet to expand on the reasons why but Frost has stated a loss of around £140,000 a season and recent rule changes forced twice Elite League champions Peterborough to jump ship.

It is believed that the disagreement over rule changes is linked to how the average score of riders moving from the Premier League to the Elite League is worked out.

Currently riders making the switch have their average halved, but could soon find their new average becoming a higher percentage of their Premier rating.

"The idea is to keep Peterborough speedway alive and to keep speedway at the Showground, albeit at a lower league if they accept our application," added Frost.

"We're effectively running a business on a shoe string with the help of lots of super supporters who give their time voluntarily."

The Elite League has now lost three of its teams, Ipswich Witches having also announced their decision to drop a division last week.

Birmingham Brummies and now King's Lynn Stars too have been confirmed as new entrants to British speedway's top flight.