New plans are in place to make sure it is all systems go for speedway's much-awaited return to Leicester.

The Leicester Lions management have secured a project sponsor in Olivetti Construction, of Countesthorpe, and have launched a share scheme to raise £100,000.

Lions are also optimistic that the legal complexities concerning the lease on the Beaumont Leys Sports Complex, which have delayed construction of the £1.2 million speedway stadium, will be ironed out at a meeting with Leicester City Council at the end of this month.

Should approval be given, work will start in April, with a completion date set for the autumn or, more realistically, the following February.

Lions promoter David Hemsley said: "Ultimately, we must have the stadium in place by this time next year.

"Like everybody else involved in speedway's return to Leicester, I would love to see some racing this year. However, there are financial implications and we have to create a balance.

"If we complete the stadium by the autumn, we will immediately have to finance it.

"Paying interest rates on a stadium that will be empty for four or five months over winter does not make sense. We would not be generating any income in those months.

"There is no reason to build the stadium very quickly. What is important is that people can see the stadium being built and watch its progress."

Olivetti Construction is playing a major part in the development.

The company is also the project sponsor in a deal Hemsley describes as "unbelievable" and will also be building the stadium.

Hemsley is delighted to have secured Olivetti's commitment and they will be constructing the pavilion and grandstand.

A specialist firm will be brought in to construct the racing track.

In addition, Lions have launched a £100,000 share scheme. Each will cost £1, with the minimum purchase set at £250.

"It is open to everybody and anybody," said Hemsley. "For supporters, it can make them feel even more part of the family.

"They can feel they have helped make things happen, that they have played a part in what will be their legacy for the next 99 years, which is the length of the lease.

"There will be benefits, such as reduction on season tickets, and anybody who buys 500 or more will qualify for the Government investment scheme, which allows for tax relief on their income. It will be their financial benefit for investing in a business."

The last Leicester speedway meeting took place in October, 1983. In recent years, a campaign to revive the sport in the city has gathered momentum and, last autumn, the city council, gave permission for a stadium, as part of a £4.5million sports complex in Beaumont Leys.

It was hoped the Lions would be in competitive league action next month, but legal wranglings over the lease delayed their ambition.

Now, with financial deals in place, and problems over the lease expected to be concluded shortly, the Lions are ready to roll.