8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):	Commission File Number:
November 29, 2010	814-00188

MEDALLION FINANCIAL CORP.

(Exact name of registrant as specified in its charter)

Delaware	04-3291176
(State or other jurisdiction of incorporation)	(IRS Employer Identification Number)

437 Madison Avenue

New York, New York 10022

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code:

(212) 328-2100

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 8.01 OTHER EVENTS.

On November 29, 2010, Medallion Financial Corp. (the “Company”) issued a press release to the news media announcing an investment in a portfolio company.

A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information in the press release is being furnished, not filed, pursuant to Item 8.01. Accordingly, the information in the press release will not be incorporated by reference into any registration statement filed by the Company under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference.

Please note that this report and Exhibit 99.1 hereto contain forward-looking statements that involve risks and uncertainties relating to business performance, cash flow, costs, sales, net investment income, earnings, and growth. The Company’s actual results may differ significantly from the results discussed in such forward-looking statements. Factors that might cause such a difference include, but are not limited to, those factors discussed under the heading “Risk Factors,” in the Company’s 2009 Annual Report on Form 10-K.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

99.1 Press release, dated November 29, 2010.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

MEDALLION FINANCIAL CORP.
By:	/s/ Larry D. Hall
	Name:	Larry D. Hall
	Title:	Chief Financial Officer

Date: November 30, 2010

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Exhibit Index

Exhibit No.	Description
99.1	Press release, dated November 29, 2010.

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EX-99.1

Exhibit 99.1

Racing Assets of Legendary Richard Petty Motorsports Purchased

by Richard Petty, Medallion Financial, and DGB Investments

Concord, NC and New York, NY – November 29, 2010 – Racing legend and all time NASCAR win leader Richard Petty is back in the driver’s seat.

Richard Petty Motorsports signed and closed a sale of its racing assets to an investment group comprised of Richard Petty, Medallion Financial Corp. (Nasdaq:TAXI) and DGB Investments.

Richard Petty, a seven-time NASCAR champion has won 200 races, including ten Daytona races. Known in the NASCAR world as “The King”, Petty will serve as Chairman and will continue to be actively involved in overseeing day-to-day operations of the company. As previously announced, the team will operate the legendary #43 car driven by AJ Allmendinger and the #9 car driven by Marcos Ambrose.

“Today is a great day for me, my family, our fans and our wonderful sponsors. Ford, Stanley Tools, Best Buy, Valvoline, Reynolds, Air Force, Super 8, Paralyzed Veterans of America ( PVA), Wix Filters and Menards have supported me through thick and thin and I thank them from the bottom of my heart” said Mr. Petty.

Andrew Murstein, President of Medallion Financial, commented: “We could not be happier to be able to acquire these assets together. Richard is one of the greatest names, not only in NASCAR, but in all sports. His name and image are a world recognized brand with unlimited potential to grow and expand in racing. Ample working capital has been invested in the company to insure this great team and legend will not only continue to perform, but will thrive and be back in the winner’s circle”.

Mr. Petty commented, “George and Foster Gillett deserve a great deal of credit for running a successful race team. They made a significant investment into the business and helped get back into Victory Lane. Going forward we have put together an all-star ownership team consisting of myself, Medallion, and VeriFone CEO Doug Bergeron”.

Medallion Financial, a publicly traded investment company, has invested over $3 billion in companies since its IPO in 1996 and its board members include such notables as former New York Governor Mario Cuomo, former Connecticut Governor and Senator Lowell Weicker, and another “King” of his sport, Hank Aaron. The Murstein family is the largest shareholder in Medallion, owning approximately 20%.

DGB Investments is an investment vehicle of Canadian-born investor Douglas G. Bergeron, CEO of VeriFone Systems, Inc. (NYSE: PAY), San Jose, Calif. In 2001, Bergeron and DGB participated in the acquisition of VeriFone Systems from Hewlett-Packard in a transaction valued at $50 million. Today, VeriFone’s market value exceeds $3 billion dollars and Bergeron remains CEO and one of the largest individual shareholders.

Douglas Bergeron commented, “With Richard Petty’s unmatched name and reputation in the motor sports industry, I know this investment is well-timed to succeed. We are going to help put Richard Petty Motorsports back in Victory Lane”.

Richard Petty concluded, “Our partnership with Andy Murstein and Doug Bergeron will help take us to a whole new level and I could not be more excited about our future”.