NASCAR: BK Racing announces new investors for 2018 season

After questions arose about the viability and stability of the BK Racing team in NASCAR, new investors have come aboard that could help them race in 2018.

The NASCAR offseason is full of big changes for drivers, sponsors, cars, and teams. BK Racing is not alone in this, as many questions have surrounded their ability to race in the 2018 Cup Series season. The team is battling a number of lawsuits, including a new one that threatens the team’s charters. However, could a new batch of investors help steady this backmarker team?

Per a press release, Iowa City Capital Partners has sold their stake in BK Racing to the Lynch Racing Co., a subsidiary of Sport Venture Group. Iowa City Capital Partners represented the ownership stake of Anthony Marlowe, who was a minority owner of the team for four years. Ron Devine remains the principal owner of the BK Racing team.

Anthony Gebbia, CEO of Sport Venture Group, had this to say about joining stock car racing’s league of owners, per sportventuregroup.com.

"“We are wholly owned by a family office with a heritage in sport, shares the passion of fans and have a vision for the future of sport. The Lynch Racing Co. was formed by Sport Venture Group to pursue the family’s heritage around motorsport and NASCAR.”"

Ron Konersmann, Chairman of Sport Venture Group, is excited to join NASCAR as well:

"“We’d like to thank both Anthony Marlowe and Ron Devine in assisting us with this process. We look forward to working with Ron (Devine) going forward to enhance the value of the charter(s).”"

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Little is known about Sport Venture Group, or its subsidiary Lynch Racing Co. The racing company’s website is a static image of racecar driver’s silhouette, with no information about their ownership or new stake in BK Racing. And while Sport Venture Group references being “wholly owned by a family office”, the exact family is not identified. This could perhaps be a cash grab by Devine in order to pay down debts and resolve many of his outstanding loans and lawsuits.

Prior minority owner of the team Anthony Marlowe has no regrets about his time in the sport, or about divesting his stake in BK Racing now:

"“After four seasons as a minority owner in NASCAR’s Premier Series, I have decided to harvest my investment. It has been a wild ride; I wouldn’t change a minute. I am thankful to Ron and Brenda Devine. Regardless of whether BK Racing ever wins a Cup race one day, they are worthy of my appreciation. It takes great courage to make the investment the Devine’s have made regarding time and money. Not to mention saving my backside from a sudden change in the direction of Swan Racing early in the 2014 season. Further, Sport Venture Group has a tremendous opportunity to build upon BK Racing’s six consecutive full-time seasons. SVG and The Lynch Racing Co. know the risks involved, but also bring fresh ideas and relationships that could be massively accretive to their investment and team.”"

Ron Devine, understandably, is welcoming the new ownership group to help his team thrive:

"“We [are] excited for Sport Venture Group to join our ownership team and look forward to working with them going forward.”"

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There is no word yet about BK Racing’s exact plans for the 2018 season, including the number of teams, sponsors, or drivers. Stay tuned to Beyond The Flag for more information this offseason on BK Racing and all the other teams throughout the NASCAR garage.

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