Ex-NASCAR Team Owner Ordered to Pay $31 Million by U.S. Court.

BK Racing, established by Devine in 2012, operated in NASCAR until its dissolution in 2018. Devine and his partners, Thomas Uberall and Wayne Press, acquired a charter originally owned by TRG Motorsports for around $10 million. This acquisition marked the beginning of BK Racing’s involvement in NASCAR’s Cup Series, although financial troubles were a constant throughout its existence.

The team’s financial instability eventually led to BK Racing filing for Chapter 11 bankruptcy in 2018, right before the Daytona 500. The bankruptcy proceedings further complicated the team’s operations, with Union Bank & Trust Company laying claim to the team’s assets, including its NASCAR charter, due to outstanding debts.

Despite the opportunity to continue racing as a non-chartered team, the financial challenges made this option unfeasible for BK Racing. As a result, a trustee was appointed to manage the assets of the team, marking the official end of its operations in NASCAR. The legal proceedings surrounding the bankruptcy were marked by significant disputes and delays.

The U.S. Court of Appeals affirmed the lower court’s decision, criticizing Devine’s actions during the bankruptcy process. The presiding judge emphasized the bankruptcy court’s patience despite Devine’s repeated disregard for the judicial process, declaring that such behavior would not be tolerated.

Devine’s legal troubles stemmed from his failure to pay over $390,000 in payroll taxes to the IRS between 2012 and 2017. These actions led to multiple charges, a potential prison sentence, and heavy fines. Eventually, Devine struck a plea deal, acknowledging his deliberate failure to meet these tax obligations.

Although BK Racing was home to drivers like Alex Bowman, Corey LaJoie, and Matt DiBenedetto, its on-track performance never reached its potential. The team’s financial and operational struggles, combined with Devine’s legal issues, ultimately led to its downfall, leaving a lasting impact on the NASCAR community.