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A Cup Series team with financial issues reportedly had some important equipment repossessed Matt Hazlett/Getty Images
RICHMOND, VA - APRIL 22: Matt DiBenedetto, driver of the #83 E.J. Wade Construction Toyota, and BK Racing owner Ron Devine speak with media before a practice for the NASCAR Sprint Cup Series TOYOTA OWNERS 400 at Richmond International Raceway on April 22, 2016 in Richmond, Virginia. (Photo by Matt Hazlett/Getty Images)

BK Racing has started the new year under some controversy.

According to Adam Stern of the Sports Business Journal, there were rumors that BK Racing is in the middle of a bank loan issue and had its haulers repossessed. Team owner Ron Devine said the haulers weren’t repossessed and he still expects the team to be on the track at Daytona, but there are clearly some issues going on with the team.

Related: The man who helped guide Dale Earnhardt to a title is leaving his current team

This isn’t the first issue the team has had in recent months.

BK Racing CMO Doug Fritz left the team in late October, and crew chief Doug Richert just announced he was leaving the team.

BK Racing is also embroiled in a lawsuit over who owns the charter that Front Row purchased from BK in 2017.  Union Bank & Trust  alleges that BK Racing owes it $9.1 million on a loan that also included two charters as collateral. The bank claims it has the rights to the charter for BK Racing’s No. 83 car.

There has been plenty of change for the team, but they still plan to race at Daytona. It’s not official that they’ll be on the grid for the February race, so this is a situation worth monitoring in the next month.

Cole Frederick About the author:
Cole Frederick is from a small town in Alabama, and he graduated from the University of Mississippi with a degree in journalism. He loves all sports - especially football and basketball - and quotes The Office frequently.
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