Crowds were not large enough to support top level speedway so, in 1938, Hackney swapped licences with the Bristol Bulldogs and dropped down to the second tier.

However, the Wolves won the 1938 Speedway National League Division Two that season,[10][11] led by their number 1 rider Frank Hodgson who averaged 10.06.

[20] Swede Bengt Jansson was brought into the club and together with Colin Pratt they nearly won the 1968 league title, only losing out on points difference to Coventry Bees.

In 1971, Hackney won their first major honour when they beat Cradley Heath Heathens to win the British League Knockout Cup.

The decade ended tragically after popular rider Vic Harding was killed on 8 June 1979, whilst racing for the team.

The team finished runner-up again during the 1980 British League season with Danish duo Bo Petersen and Finn Thomsen adding valuable support to Plech.

At the completion of the 1983 British League season there was major disruption after Oxford Cheetahs bought Len Silver's division 1 licence.

[33][34] Under the receivers a new speedway promotion arrived when Ivan Henry and Terry Russell moved their Arena Essex Hammers team to Hackney and rode as the London Lions.