Former NASCAR Team Owner Ordered To Pay $31 Million By US Court

Table of Contents

The U.S. Court of Appeals upheld a staggering $31 million fine against Ron Devine, the former owner of BK Racing, following his indictment in 2023 for deliberately evading payroll taxes.

BK Racing, a NASCAR Cup Series team, was operational from 2012 until its dissolution in 2018. Founded by Ron Devine, who also ran several Burger King franchises, BK Racing's origin lies in the acquisition of a charter originally belonging to TRG Motorsports.

They acquired this business in approximately 2011 for around $10 million, an investment led by Devine and his partners, Thomas Uberall and Wayne Press.

The team, however, faced significant financial struggles, culminating in a Chapter 11 bankruptcy filing just prior to the 2018 Daytona 500.

The legal issues surrounding BK Racing grew more apparent when Union Bank & Trust Company sought to repossess the team's assets during its bankruptcy process in 2018.

This bankruptcy ultimately led to the appointment of a trustee, who took possession of BK Racing's assets, consisting of its valuable NASCAR charter and properties.

Although BK Racing had the choice to continue racing as a non-chartered team, financial factors made this option unfeasible.

:

The bankruptcy court showed unusual tolerance in the face of the appellants' extreme actions. This court will not allow such obvious disrespect for the judicial system.

Devine's legal troubles, though, go far beyond this one verdict. For five years, from 2012 to 2017, he failed to pay more than $390,000 in payroll taxes to the IRS, which led to multiple charges and the potential for significant fines and even jail time.

Devine eventually agreed to a plea deal, admitting that he willfully failed to pay these critical taxes.

Although BK Racing ceased operations, its troubles continued. The team, which once fielded notable drivers like Alex Bowman, Corey LaJoie, and Matt DiBenedetto, often struggled to perform well on the track.

Despite the driving abilities of its individual drivers, BK Racing was unable to achieve significant success in the competitive NASCAR scene.

The team's resources were eventually sold off and transferred to Front Row Motorsports, which only resulted in a temporary setback but not an instant shutdown.

2025 NASCAR Cup Series Schedule

Regular Season

  • N.C. - Clash (8 p.m., FOX)
  • NASCAR Daytona 500 - 2:30 p.m., FOX
  • Sunday, 3 p.m., FOX
  • Austin time - 3:30 p.m., on FOX
  • The Yankees at the Giants at 3:30 p.m. on FS1.
  • Las Vegas - 3:30 p.m., FS1
  • Homestead - 3 p.m., FS1.
  • Martinsville - 3:00 p.m., FS1
  • NASCAR: Darlington 400, 3:00 PM EST, FS1
  • Bristol - 3 p.m., FS1.
  • :
  • Racing Update: It's 3 p.m. in Talladega and FOX has a broadcast.
  • Texas - 3:30 p.m., FS1.
  • Kansas - 3 p.m., FS1 (no change)
  • North Wilkesboro (All-Star) - 8 p.m., FS1
  • It's 6 p.m., and Charlotte is currently playing on Prime Video
  • Nashville - 7 p.m., Prime Video
  • Michigan - 2 p.m., Amazon Video
  • Mexico City, 3:00 p.m., on Prime Video
  • Pocono - 2 p.m., Prime Video
  • Atlanta broadcasts on TNT at 7 p.m.
  • Chicago street course - 2 p.m., TNT
  • Sonoma - 3:30 p.m. is equivalent to 3:30 pm.
  • Dover time is 2 o'clock in the afternoon on the TNT network.
  • Indianapolis - 2 p.m., TNT
  • Iowa - 3:30 p.m., CST
  • Watkins Glen, 2:00 p.m., United States
  • : Richmond - 7:30 p.m., Evening in the US
  • The Daytona schedule is as follows: 7:30 p.m., NBC

Playoffs

  • In Colloquial American slang: "It's six o'clock in Eastern Standard Time in the United States."
  • Saint Louis - 3:00 in the afternoon, USA
  • Bristol - 7:30 p.m., USA time
  • New Hampshire - 2 p.m., Eastern Standard Time, USA
  • Kansas - 3:00 p.m., United States
  • The Charlotte road course - 3 p.m., USA.
  • Las Vegas - 5:30 p.m., USA
  • NASCAR: Talladega - 2 p.m., NBC
  • No paraphrased text to provide as the original input is a time and TV network, which doesn't require paraphrasing.
  • Phoenix - 3 p.m., NBC

Related Articles

  • Front Row Motorsports Extends Partnership with Key Sponsors for 2025 NASCAR Season
  • Kyle Larson Weighs In on NASCAR Waiver Rule After Scaled-Down Cup Season Schedule
  • NASCAR Signs Multi-Year Deal with Major $2.38 Billion-Value Company
  • NASCAR Plans to Reduce $2 Million Annual Sponsorship as 2025 Season Approaches

Posting Komentar