MALCOLM Wright has broken his silence over the reasons behind his imminent departure as Sheffield co-owner.

Wright has decided to stand down in order to take a more backseat role after a decade with the club.

Wright said: "I made a decision last season that I really wanted to take more of a back-seat when it comes to speedway, I've enjoyed my time as a promoter but the time is right for me to stand down.

"I've been in talks with Neil and I'm sure an agreement will be finalised which ensures the club is in good, safe hands for many years to come.

"I'll still be coming to Owlerton, but only to watch and support the team. I want to enjoy my speedway more and I can do that without the pressures of being a promoter.

"It was 1996 when I joined Sheffield and I can honestly say I've enjoyed every minute of it and I leave knowing the club is in good hands for the future.

"I like the way Neil has put the 2007 team together and I would certainly back the lads to be in the top three. If they stay clear of injuries I wouldn't mind backing them for the title. It should be a good season for Sheffield and I'll be there to support them."

Neil Machin will become sole owner of Sheffield Speedway and will appoint a new co-promoter within the next month.