Latest news with #BKRacing
NBC Sports
13-06-2025
- Automotive
- NBC Sports
Ryan Truex looks to enjoy Mexico weekend driving Denny Hamlin's car
MEXICO CITY — Over the past couple of weeks, Ryan Truex admits that when crew chief Chris Gayle texted him 'my heart would stop.' Did Denny Hamlin, awaiting the birth of his son, need Truex to drive his car? MORE: Results of first Cup practice 'Is it yes or no?' Truex said. 'Every time it was a maybe.' Until Wednesday when Hamlin's fiancee had the couple's child and Hamlin decided to skip this weekend's race at Autódromo Hermanos Rodríguez. Truex — who is Joe Gibbs Racing's reserve driver and also does much of the team's simulation work — was on plane Thursday for Mexico. The last time a Truex raced in Mexico, Martin Truex Jr. won the inaugural Xfinity race at this track in 2005. After Ryan Truex texted his big brother about his news, Martin texted back: 'Truex's are one-for-one in Mexico.' As Ryan Truex noted: 'So, no pressure.' Dustin Long, This will be his first Cup start since 2014. 'My last time in Cup was not a fun experience,' Truex said of his time with BK Racing, an underfunded team that later went into bankruptcy and had to sell its charter. 'It didn't go well for me. I didn't enjoy it. That was probably not the right move for me, career-wise, and I've kind of been fighting back since then. 'I enjoy everything I do at JGR. I've been able to race part time the last couple of years, and do all of this stuff away from the track. It has been nice. It has been fun to race part-time and have some Saturdays at home, but it is also fun to be at the track, so I feel like I've had a good balance the last few years and the Cup cars then are so different than what they are now.' Nate Ryan, Truex has 102 career Xfinity starts. He three career series wins have come in his last 18 Xfinity starts. In Friday's first practice session, Truex was 36th on the speed chart among 37 cars. Truex says he has modest goals for this weekend. 'Really just want to enjoy it,' he said ahead of Friday's practice sessions. 'I don't really have any set goals or expectations – I just want to enjoy the weekend. I'm driving a Cup car for Joe Gibbs at an international race – this is not something I ever dreamed of doing, just want to take it all in and have a good time.'
Yahoo
11-06-2025
- Business
- Yahoo
Former BK Racing owner pleads guilty to failure to pay payroll taxes in latest legal troubles
CHARLOTTE, N.C. (QUEEN CITY NEWS) – Former NASCAR team owner Ron Devine pleaded guilty Wednesday to failure to pay payroll taxes, announced Russ Ferguson, U.S. Attorney for the Western District of North Carolina. According to the plea documents and other court records, Devine, 68, was the owner and President of BK Racing, LLC (BK Racing), which operated a NASCAR team and owned two charters. As the owner, Devine was discovered to have exercised control over the team's financial affairs, including authorizing the filing and payment of its trust fund taxes, commonly referred to as payroll taxes. Federal judges rule in favor of NASCAR in lawsuit filed by Jordan-owned 23XI and Front Row Payroll taxes are withheld from employees' gross pay for income tax and to fund Social Security and Medicare. Employers are also required to make contributions to trust fund taxes matching the amounts withheld from their employees' pay, and to file and pay quarterly taxes. Court records indicate that beginning in 2012, Devine caused BK Racing to fail to account for and pay hundreds of thousands of dollars in payroll taxes. Court documents show that, between 2012 and 2017, instead of using the funds held in trust to pay for payroll taxes due, Devine allegedly 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. Devine, who lives in northern Virginia, was released on bond following his guilty plea. The charge of failure to truthfully account for and pay over trust fund taxes carries a maximum penalty of five years in prison and a $250,000 fine. A sentencing date has not been set. This is just the latest in Devine's financial troubles that were taken court. In April, a federal judge approved a lawsuit from Front Row Motorsports after buying a charter for BK Racing that came with more than $9 million in debt. After Front Row settled with the bank for $2.1 million, the team asked Devine and business partner Michael DiSeveria to pay the balance, plus interest. They refused at first, thus creating the legal matter. In January, a federal appeals court upheld an order for Devine and his BK Racing associates to pay a $31 million fine, after being accused of attempting to obstruct and delay the team's bankruptcy proceedings. BK Racing last competed in the Cup Series in 2018, when they filed for Chapter 11 Bankruptcy. Assistant U.S. Attorneys Caryn Finley and Daniel Ryan of the Office in Charlotte are prosecuting the payroll tax case. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
