New entrants were Motherwell Eagles and there were again three teams promoted from Division Three - Leicester Hunters, Liverpool Chads and Oxford Cheetahs.
After finishing at the bottom of the table the previous year, Bradford and Leicester were no longer running due to financial difficulties.
Notable Hunters riders include Ken McKinlay, who was the team's top rider for eight seasons between 1954 and 1961, Harwood Pike, Len Williams, Charlie Barsby, Paweł Waloszek, Harry Bastable, Jack Geran, Ivor Brown, and Norman Hunter.
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Former rider Cyril "Squib" Burton, who had been one of the top riders of the Leicester Stadium team in the early 1930s, took over as manager in 1950 and the team were promoted to division 2 at the end of the season.
Leicester | University of Leicester | Leicester City F.C. | Leicester Tigers | Simon de Montfort, 6th Earl of Leicester | Ghost Hunters | Leicester Square | Earl of Leicester | Robert Dudley, 1st Earl of Leicester | Bayview-Hunters Point, San Francisco | Leicester railway station | Hunters Hill, New South Wales | Hunters Hill | Hunters & Collectors | Alliance & Leicester | Metroid Prime Hunters | Leicester City Council | Thomas Coke, 2nd Earl of Leicester | Simon de Montfort, 5th Earl of Leicester | Leicester Royal Infirmary | Leicester Mercury | Leicester House | In the Land of the Head Hunters | Haymarket Theatre (Leicester) | UFO Hunters | Leicester General Hospital | Leicester Galleries | Leicester Falcons | Leicester Campbell Street railway station | Greyfriars, Leicester |