Bosses of Coventry and Peterborough walked out of the BPSA AGM at Bournemouth before registering the club's intent to race and now Coventry's future is in serious doubt after the BPSA confirmed that Plymouth would move into the Premier League to take Kings Lynn's place and no more applications for that division would be accepted.
According to today's CT, BPSA Chairman Alex Harkiss said: "Let me first say how saddened I am that two clubs of great stature will not be competing in the 2011 Elite League.
"But the bottom line is simple. Both clubs left the AGM and therefore failed to declare their intention to take their place in the Elite League. It was their decision and their decision alone.
"They are of course, entitled to such a decision however, regrettable it may be for the fans of those clubs and the sport in general. It must be emphasised that the BPSA is a democratic organisation. I sincerely hope it is not the end of Elite League Speedway at both venues and that, perhaps they will return in 2012."
Meanwhile, the Bees have issued the following statement saying they will take legal action along with Peterborough.
The statement reads as follows: "On the basis of legal advice from specialist counsel we shall be challenging the decisions taken by the BSPA.
"(We) have been working together to find a resolution to the situation."
Finances and rule changes are at the heart of the issue for Panthers while the Bees had previously stated they had received advice from lawyers to not comment on the situation.