King's Lynn Stars set for speedway Elite League

King's Lynn Stars have announced they will be making the step up from the Premier League to the Elite League.

The Stars last competed in the top flight in 2002 and have since won the Premier League treble in 2006 and 2009.

Current Elite League champions Coventry Bees, Peterborough Panthers and Ipswich Witches have all quit the division.

"Some of our fans may be concerned about finances but this is a calculated risk and not a gamble," co-promoter Jonathan Chapman told the club website.

"The costs in the Premier League have crept up considerably over the past few seasons while in the Elite League the costs have levelled out.

"So with this in mind and the fact we will generate extra income through Sky TV and sponsorship it will all hopefully work out for the club."

We have won everything possible in the Premier League and to be totally honest things started to get a bit tiring last season

King's Lynn Stars boss Rob Lyon

The 2010 campaign was a disappointing one by King's Lynn's standards, finishing up seventh and out of the play-off positions.

Birmingham Brummies had already confirmed their place in the new-look Elite League, which currently has eight teams, one less than last season.

Rumours had suggested that the Stars would be financially supported by other top flight sides to bolster the numbers in the division, but in a statement the Norfolk team were quick to deny the claims.

It said: "The club would like to emphasise to fans that despite certain press articles and rumours, the decision and investment required to move into the Elite League was made solely by the King's Lynn promoters and with the support of their sponsors."

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King's Lynn had displayed their ability to host world-class speedway when a packed crowd watched Great Britain win a World Cup semi-final at the Norfolk Arena in July.

Stars and GB manager Rob Lyon added: "This is a really exciting time for the club, we have won everything possible in the Premier League and to be totally honest things started to get a bit tiring last season.

"There is only so many times you can enjoy travelling all the way up to Scotland in a season and this move gives me and the club a totally fresh challenge.

"I am also pleased to see that Birmingham have taken the decision to step up to the Elite League, since their revival we have built up a friendly rivalry and it will be interesting to see how Graham Drury handles the pressure of a top flight team.

"Obviously my experience working with Team GB will be of a great benefit and I am looking forward to building a solid and hopefully successful team for our 2011 Elite League campaign."