Speedway legend Peter Karlsson in Monmore return

And Karlsson, who suffered an indifferent season in Britain last year, has set himself a simple goal: Win races.

The Swede lost his place at Lakeside during the 2014 campaign and enjoyed only moderate success when returning to Monmore towards the end of it.

"I am really pleased to get the chance to go back for a full season," he said. "I just want to make sure we win races. Simple. It will be a big challenge for the club and, personally, for myself," said the double Swedish champion. "But for sure the target will have to be the play-offs. It looks like it's tough. But we are building an interesting team and if we all ride to our potential, anything can happen."

Karlsson returns on a bargain basement average of six-and-a-half after last season's struggles. "It was a combination of a lot of things that made it bad," he said.

"It was mainly in Britain, really. Over in Sweden I was going good, the same as normal. In Poland I had a good season. In Britain, it was mainly down to the bikes."

Karlsson, a proud competitor and three times World Cup winner, rejects any suggestion that he has something to prove – and still isn't contemplating hanging up his kevlars.

"I don't want to 'show' anyone," he said firmly. "I can do a good job."

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"I have got a couple of new things on my bike that I'm really pleased about. "I am as keen as ever; I am training every day.

"There are only a couple of months between me and the world champion (44-year-old Cradley great Greg Hancock).

"If Greg can win the championship like he did, really convincingly, I see no reason why I can't be doing well in the leagues.

"I remember, a long time ago, when Hans Nielsen called it a day when he was 40. I rode in his farewell meeting and said to myself: 'I'll never ride when I'm 40.'

"But things change. I like the sport, I like to compete.

"I can't step back and just compete a little. There is no point. I'm looking to do well."

Karlsson is reunited this year with fellow countryman Freddie Lindgren. The two were pivotal figures in the 2009 Elite League triumph when 'PK' was captain and 'Fast Freddie' a dominant No.1

"It will be nice to ride with Freddie again," he added. "There were a few years when we were in the same team. I am looking forward to it.

"I was very pleased when Chris (Van Straaten, Wolves owner) gave me the chance.

"I didn't have to think about it for a long time!"