Parrys International Wolves head to Peterborough on Monday and have drafted in former Birmingham youngster Leon Flint to cover as a guest replacement.
Bacon says he has lived the dream to become a speedway rider but admits injuries have finally taken their toll.
He said: “I have always put everything into my racing and it has been the main focus in my life for several years now making this one of the most difficult decisions I’ve ever had to make, but I have decided to retire from racing speedway.
“It was my dream to become a speedway rider from an early age when I was just a fan but only came in to the sport late, getting my first ride in the National League at the age of 22.
“Since then I’ve been able to live my dream, racing professionally with and against my heroes and in front of fans around the country.
“Unfortunately, I’ve also experienced some very nasty injuries including a reoccurring shoulder injury and most recently two broken backs.
“Having to recover from these injuries and then missing time with the pandemic has made coming back to racing very difficult and I am struggling with the mental aspect of it all. I have therefore made the very difficult decision to walk away.
“I have always given everything to my racing and in order to race speedway at a high level you need to be 100 per cent committed and able to put your neck on the line every night no matter what and for me the want to do that is no longer there.”
“There are so many people I want to thank that have supported me over the years including all my sponsors, the supporters and management at every single club I’ve ridden for, the guys at AMSA for teaching me how to ride a bike, Paula and Matt Clarke for their continuous support, Steve Williams for his help with all the injuries and Brian Clarke for his dedication mechanicing for me but most importantly thank you to my family who have been by my side every step of the way. It’s been fun!”