Ex-NASCAR team owner ordered by the court to pay $31 Million in bankruptcy proceedings


<em>Ex-NASCAR team owner ordered by the court to pay $31 Million in bankruptcy proceedings</em>

BK Racing No:23 Car

Hendrick Motorsports No:48 team driver Alex Bowman’s former team owner Ron Devine was ordered to pay $31 Million by a court after he filed for Chapter 11 bankruptcy. The trusts and companies associated with him will also have to pay the banks, organizations, and individuals to whom they owe money.

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Ron Devine, who was a burger king franchisee owner turned NASCAR team owner, has been found guilty of not complying with discovery procedures of financial disclosures. Devine testified that he had done all he could to comply with requests for financial disclosures.  He said, “I‘m trying as hard as I can… to keep up with this thing,”.

Devine owned the NASCAR team BK Racing from 2012 to 2018. He was fired from the ownership of the team just days before the 2018 Daytona 500 after he filed for Bankruptcy. That year was the last ever cup season for the team. The team was liquidated, and Front Raw Motor Sports took over their assets.

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BK Racings NASCAR legacy

BK Racing
BK Racing No:88 Car

BK Racing is one of the many NASCAR teams that failed to establish themself in the series and were forced to shut down their operations. The team has given some of the modern-day racing superstars a platform to take the next step, but the team failed to take that step with them due to their financial struggles.

Ron Devine and tomato grower Wayne Press joined former Red Bull Racing Team director Thomas Uberall and took over the latter team, which ended its operation in 2011. Their takeover cost the trio $10 Million. The team used the Burger King paint scheme as Devine was one of their franchise owners. The team was never actually paid for it.  The team had full-time entries in the years 2012.2013.2014, 2015, and 2017. They fielded two and three cars during these years.

Michael Waltrip, Alex Bowman, J. J. Yeley, Corey LaJoie, Jeffrey Earnhardt, Landon Cassill, and Ryan Truex are some of the renowned names to drive for the team. Waltrip raced 2016 Daytona 500 with the team and finished outside the top 30. Alex Bowman ran a full-time season in 2014, and his highlight was a P13 finish at Daytona. His remaining finishes were outside the top 30.

The team’s last race in the cup series came in the 2018 season finale. J. J. Yeley drove the No:23 Ford to the team outside the Top 30 finish. The team scored 3 top-10 finishes in the cup series, and their best finish was P6 in 2018 at Bristol Motor Speedway, scored by Matt DiBenedetto for the No:83  team.

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