Abstract: A variable speed pulley assembly (10) for use with a drive belt (30) having a V-shaped cross-sectional configuration for transmitting driving force to the pulley assembly and a driven belt (32) having a V-shaped cross-sectional configuration for transmitting force driving force from the pulley assembly. The pulley assembly (10) includes a plurality of pulley halves (90-98) which are welded to a constant diameter portion (62) of a shaft (50). The shaft (50) rotates about its axis (44) to enable the pulley halves (90-98) to rotate. A sleeve (120) on the constant diameter portion (62) of the shaft (50) is movable axially in opposite directions along the shaft. The center pulley (94) is fixed for rotation with the sleeve (120). The first ratio of the length of the sleeve (120) to its diameter is at least 1 to 1. The ratio of the outer diameter of the drive belt (30) on its pulley, to the first ratio, is preferably less than 4 to 1.