Newport Wasps 'withdraw' from 2012 speedway season
British Speedway has announced that Newport Wasps have withdrawn from the 2012 Premier League season.
In a statement the governing body said that: "We are doing everything within our power to ensure the continuation of the sport at the south Wales venue."
Wasps co-promoter Nick Mallett resigned earlier this week citing a series of disputes with the governing body.
The club has also been hit by a loss of revenue after stock car racing pulled out of the Queensway Meadows stadium.