 The Monarchs (Meadowbank Monarchs) were re-established in 1948 by a consortium including Frank Varey, ex-rider and Sheffield promoter, and R.L.Rae, a local Edinburgh businessman.The team operated at Old Meadowbank 1948 in the National League Second Division until midway through 1954.The team finished at the bottom of the league in 1948 but improved to a best place of third before closure in 1954.