“$2.08 Million for a Charter”: Former Team Owner May Get Imprisoned With Charges Worth $1 Million; NASCAR Fans Furious

NASCAR has become one of the most popular motorsports competitions in the world. Anyone involved with the sport, from drivers and team owners to crew chiefs and their crews, often comes under a lot of scrutiny from the fans and media. So when someone from a team faces serious court charges, it does not take long for it to make the news and become a huge story.

That is exactly what happened with a former team owner whose team enjoyed a 7-year stint in the Cup Series. It was not a successful venture and the team never managed to record a single victory. At the time, they were not considered to be a competitive outfit. Thanks to their owner’s antics, the team has finally made the news but for all the wrong reasons.

The tumultuous past and present of indicted Cup Series team owner

From 2012 to 2018, NASCAR saw BK Racing competing in the Cup Series. The team was owned by Ron Devine, who has found himself in a pretty serious soup. Devine had filed for Chapter 11 bankruptcy in the middle of the 2018 season, only a few days before the Daytona 500. 

Later that year, the court sold BK Racing’s charter assets for a price of $2.08 million to Front Row Motorsports. Before Ron Devine had filed for bankruptcy, the Union Bank & Trust Company was scheduled to start legal proceedings against him, claiming that he owed them a whopping $8 million.

The sale effectively liquidated BK Racing but the team still fielded a car until the end of the 2018 season with the help of Front Row Motorsports and NY Racing team. However, it turns out that Ron Devine’s problems are far from over.

On Wednesday, the former Cup Series team owner was indicted of four counts of failure to pay payroll taxes, according to a release from the US Attorney’s Office for the Western District of North Carolina. The former Cup Series team owner faces a maximum penalty of five years in prison and a $250,000 fine for each of the four counts in the indictment.

“The indictment alleges that, starting in 2012, Devine caused BK Racing to fail to account for and pay over hundreds of thousands of dollars in payroll taxes. For example, according to the indictment, in 2017, Devine allegedly failed to pay over more than $390,000 in payroll taxes due to the IRS.

“The indictment further alleges that, between 2012 and 2017, instead of using the funds held in trust to pay for payroll taxes due, Devine transferred more than $2 million to other businesses and entities that he owned and controlled and used some of the funds to pay for BK Racing’s expenses such as rent, utilities, and vendor bills,” part of the release read.

The NASCAR community was obviously not happy with Ron Devine’s actions and it didn’t take long for fans to express their opinions on Twitter.

Fans livid with former team owner’s illegal activities

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There were some fans who compared the former BK Racing owner’s situation to what Cody Ware had faced last year. The charges, however, were different. 

Some fans weren’t surprised that something related to BK Racing had gone wrong yet again. For some, it was shocking. “Of course, it’s BK racing related,” one fan wrote. “What a shock,” commented another.

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Some fans were quite amazed at the value of the charter that BK Racing had to sell to FRM. Of course, it comes in the backdrop of Spire Motorsports’ massive $40 million charter purchase. “2.08 million for a charter holy c**p that was a steal in 2018,” one user commented.

There also were some fans who believed that Ron Devine would get away with the charges, no matter how serious they may be. “Won’t see a day in prison even if the charges are true. (And I’m not saying they are. Only the court can decide that.) I would be shocked if the case ever makes it to court,” they wrote.

Ron Devine is set to appear in a Charlotte court to answer the charges. How do you think this whole legal drama will play out? Let us know your thoughts and opinions.

Read More – Infamous NASCAR Owner Could Face 20 Years Jail Time & $1 Million Fine After Federal Tax Fraud Charges for Planned Bankruptcy