NASCAR: Ron Devine loses control of BK Racing team

BK Racing has been placed under the control of a court-appointed trustee, as the NASCAR team owned by Ron Devine battles over bankruptcy proceedings.

The saga of NASCAR Cup Series backmarker BK Racing continues. Owner Ron Devine filed for bankruptcy earlier in 2018, fueling speculation that the former multi-car operation would fold and not field an entry in the new year. Heading into the Easter break, the team was dealt another blow in bankruptcy court, as a trustee will take over responsibilities for the organization, putting its future in further jeopardy.

Matthew Smith of The Finley Group has been appointed by U.S. District Court Judge J. Craig Whitley to operate the #23 Toyota while court proceedings continue. The court additionally encouraged those owed money by BK Racing to file claims with the court. Major creditors of the team include Union Bank and Trust, the Internal Revenue Service (IRS), and Race Engines Plus.

Ron Devine had this to say about the court’s decision and his future with the team, according to ESPN:

"I’m disappointed, obviously. We’ll see. … I don’t know if I will stay involved in it or go in another direction.You’re trying to figure out whether to put [in] a trustee? It’s a disservice. Devine said in his testimony. Not only to me and my $35 million that I’ve invested, but to the people sitting out there trying to get paid.All they want to do is capture my charter and move it."