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Martin Truex Jr., Furniture Row Racing earn Colorado Sportsperson, Team of the Year honors

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Martin Truex Jr. continues to rack up the honors.

The defending NASCAR Cup champion was named Friday as the 2017 Colorado Sportsperson of the Year by Mile High Sports magazine.

Truex’s photo is on the cover of the current Mile High Sports. He was also named Colorado’s “Fan Favorite” Athlete of the year in a fan vote on the magazine’s website,

In addition, the magazine named Furniture Row Racing as Colorado Team of the Year. FRR president Joe Garone was a finalist for the magazine’s Executive of the Year.

“What Martin Truex Jr. and Furniture Row Racing did this year was not only unprecedented for the team and the state, but it was hands down the best sports story of the year,” Mile High Sports magazine editor-in-chief Doug Ottewill said in a media release. “What he had to go through personally, what the team had to overcome along the way – all of it made our choice for Sportsperson of the Year an easy one.

“This is our highest honor – the big one, the one that the likes of John Elway, Peyton Manning, Missy Franklin and Chauncey Billups have won – and it thrills me to be able to add Martin Truex Jr. to that list.”

Driver of the No. 78 FRR Toyota Camry, Truex earned a NASCAR Cup series-high eight wins, capped off with a win in the season-ending and championship-deciding race at Homestead-Miami Speedway.

He also led virtually every major statistical category.

“Individual honors in a team sport are a result of the people you are surrounded with,” Truex said in a statement. “I feel blessed to be part of an outstanding organization led by our owner Barney Visser, team president Joe Garone and crew chief Cole Pearn.

“These honors represent the hard work by the talented individuals at our Denver race shop. I want to thank Mile High Sports and all our passionate Colorado race fans for the support they have given our team through the years.”

Furniture Row Racing, which calls the Denver, Colorado area home, is the only active NASCAR Cup team based west of the Mississippi River and 1,500 miles from the Charlotte, North Carolina area, where most NASCAR teams are based.

“I guess we have heard ’that’s impossible, you will never do that’ for the last time,” Visser said in a statement. “We are very proud of our Denver roots and to receive these prestigious awards in our home state makes it even more special.

“The Colorado fans have been loyal followers of our team and we are honored to bring a major championship to the state.”

The Colorado honors add to an already lengthy list of awards that Truex, Pearn and Furniture Row Racing have earned, including:

* Truex was recently named New Jersey Sportsperson of the Year.

* For the second consecutive year, Truex was named Eastern Motorsport Press Association Al Holbert Memorial National Driver of the Year.

* AutoWeek magazine named Truex Driver of the Year and Furniture Row Racing was named Team of the Year.

* named Truex Driver of the Year, Pearn was named Crew Chief of the Year and Furniture Row Racing was named Team of the Year. Truex and longtime partner Sherry Pollex were also awarded Best Moment Off The Track.

* Truex and Pollex were awarded the National Motorsports Press Association (NMPA) Myers Brothers Award.

Weekend schedule for NASCAR at Martinsville Speedway

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NASCAR returns to its backyard this weekend after the three week West Coast swing.

The Cup and Camping World Truck Series visit Martinsville Speedway in Southern Virginia.

The weekend is capped off by Sunday’s STP 500. It will be the first Cup race broadcast on Fox Sports 1 this year.

Here’s the full weekend schedule complete with TV and radio info.

(All times are Eastern)

Friday, March 23

8:30 a.m. – 6 p.m. — Truck garage opens

11:05 – 11:55 a.m. — Truck practice (No TV)

1:05 – 1:55 p.m. — Truck practice (Fox Sports 1)

3:05 – 3:55 p.m. — Final Truck practice (FS1)

Saturday, March 24

7 a.m. – 8 p.m. — Cup garage open

7:30 a.m. — Truck garage opens

10:05 – 10:55 a.m. — Cup practice (FS1, MRN)

11:05 a.m. — Truck qualifying; multi-truck/three rounds (FS1)

12:15 p.m. — Truck driver-crew chief meeting

12:30 – 1:20 p.m. — Final Cup practice (FS1, MRN)

1:30 p.m. — Truck driver introductions

2 p.m. — Alpha Energy Solutions 250; 250 laps/131.5 miles (FS1, MRN, SiriusXM NASCAR Radio)

5:10 p.m. — Cup qualifying; multi-car/three rounds (FS1, MRN, SiriusXM NASCAR Radio)

Sunday, March 25

9:30 a.m. — Cup garage opens

Noon — Driver-crew chief meeting

1:20 p.m. — Driver introductions

2 p.m. — STP 500; 500 laps/263 miles (FS1, MRN, SiriusXM NASCAR Radio)

BK Racing court filing reveals expenses, revenue for each race

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Court documents filed Thursday show that BK Racing made a net income of $359,619 through the Phoenix Cup race.

The documents are part of BK Racing’s Chapter 11 bankruptcy case. The team filed Chapter bankruptcy Feb. 15.

COURT DOCUMENTS: Click here to view the BK Racing filing

MORE: Peek into race purses under charter system

A hearing is scheduled this afternoon in U.S. Bankruptcy Court, Western District of North Carolina, on a motion by Union Bank & Trust. The bank claims it is owned more than $8 million in loan payments and seeks to have a trustee oversee BK Racing’s finances “to an end to the Debtor’s years of mismanagement,’’ according to court documents from the bank.

In its motion to appoint a trustee, Union Bank filed documents stating that the team lost nearly $30 million from 2014-16.

The updated budget filed Thursday on behalf of BK Racing breaks down income and expense for each of the first four points races and anticipated income and expenses the rest of the season.

The document shows that BK Racing had $50,000 sponsorship for the Daytona 500, $10,000 sponsorship each for the Atlanta and Las Vegas races and $30,000 sponsorship for the Phoenix race.

BK Racing listed prize money as:

$29,946 for its qualifying race at Daytona

$428,794 for finishing 20th in the Daytona 500

$91,528 for finishing 36th at Atlanta

$98,754 for finishing 33rd at Las Vegas

$82,000 for finishing 34th at Phoenix

The high payout for the Daytona 500 has given BK Racing more than $350,000 in net income. For other races, though, the team’s net income has been small.

At Phoenix, the team listed a net income of $790.

The team had $120,250 in revenue for the Phoenix weekend. It was broken down this way:

$82,000 in prize money

$30,000 in sponsorship

$8,250 in other revenue

The team listed $119,460 in expenses that weekend. Among the team’s expenses for Phoenix:

$35,000 for its engine lease

$21,000 for salary and wages

$10,525 for airfare for team personnel

$9,000 for tires

$9,000 for contract payroll

Those expenses alone totaled $84,525, exceeding what the team made in prize money and showing how important sponsorship is in the sport.

BK Racing provided a budget for the remaining races. The team’s budgeted expense was more than $103,000 for every race. That included everything from engine lease and tire bills to hotels, meals, salary and wages, entry fees, insurance, payroll taxes and more.

The most expensive race is the Daytona 500 at $135,502, which included an engine lease of $50,000. Next listed was Auto Club Speedway at $125,606, which included $9,500 in airfare and $10,000 in tires.

BK Racing’s prize money estimates on remaining races is based on a 30th-place finish in each event.

BK Racing lists its sponsorship budget for future races as $50,000 per race, progressing to $100,000 and to $150,000 for the final 13 races. That would give the team a sponsorship budget of $3.505 million.

Court documents filed by Union Bank & Trust show that BK Racing collected $1.5 million in sponsorship in 2016 and $1.05 million in sponsorship in 2015.

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A rare peek into race purses, payouts under the charter system

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A new filing before a Thursday bankruptcy court hearing for BK Racing provided a window into the payouts of NASCAR’s charter structure.

The system, which went into effect two years ago, guaranteed revenues and race attendance for 36 cars. Funding was based on four categories: entering a race, historical performance over the past three seasons, the traditional points fund (with extra cash) and race results. It was partly intended to help teams by providing more predictable revenue guarantees for budget projections.

MORE: Court filing reveals expenses, revenue for each race

Prior to the 2016 season, each race had a purse that paid out for finishing position and contingency awards (which rewarded the most competitive teams). Under the new system, money paid for results was based solely on finishing position, and NASCAR abolished publishing purse totals and race winnings in box scores.

The BK Racing document, which was filed in U.S. Bankruptcy Court, Western District of North Carolina, sheds some light on those now shielded numbers. It lists the total purse for every race during the 2018 season and also lists BK Racing’s prize money for each of the first four races in the No. 23 Toyota with driver Gray Gaulding.

–Daytona 500 (total purse $15.466 million): The team earned $428,794 for finishing 20th.

–Atlanta Motor Speedway (total purse $2.477 million): The team earned $91,528 for 36th.

–Las Vegas Motor Speedway (total purse $2.647 million): The team earned $98,754 for 33rd.

–ISM Raceway near Phoenix (total purse: $1.459 million): The team earned $82,000 for 34th.

Though the formula was different for structuring the purse and race payouts, here were the total purses and payouts for those positions in 2015, the last year that earnings were publicly made available.

–Daytona 500: Total purse $19.8 million; $348,803 for 20th

–Atlanta: Total purse $6.3 million; $101,370 for 36th

–Las Vegas: Total purse $6.5 million; $118,724 for 33rd

–Phoenix: Total purse $5.1 million; $74,805 for 34th

A hearing on the BK Racing bankruptcy case will be held in Charlotte at 2 p.m. Thursday.

Click here to view the BK Racing filing.

Carl Edwards says he’s ‘enjoying life’ on the farm

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Former driver Carl Edwards says he’s “having fun, enjoying life” and doesn’t have plans to return to racing.

Edwards talked with host Claire B. Lang on “Dialed In” on SiriusXM NASCAR Radio on Wednesday night.

Edwards shocked the sport when he announced in January 2017 that he was leaving. He returned to his home in Columbia, Missouri.

“I’m basically just doing what I told everybody I was doing, spent a lot of time with friends and family and traveling a lot, farming a lot and really enjoying it,’’ Edwards told Lang.

Asked about any return to racing, Edwards said: “I don’t have any plans to come back. I do miss a lot of people.’’

Asked about any potential political ambitions, Edwards said: “You never know. I think like probably almost every person listening to this channel right now, I really believe in, I believe in America, I believe the Constitution is the set of rules that let us have all this success and freedom. I care about that being there for generations to come. If sometime in the future there is a chance for me to help that cause, try to lend some assistance to not letting us get off track, then heck yeah, I would consider, but, no, there is not some campaign started. I’m not going to be doing anything anytime soon.’’

Edwards made his Cup debut in August 2004 at Michigan International Speedway, finishing 10th in a race won by Greg Biffle.

Edwards won 28 Cup races in 445 starts. Every retired driver who has at least as many wins and is eligible for the Hall of Fame has been inducted. Jeff Gordon is eligible for the first time this year. Edwards and Tony Stewart will be eligible for Hall of Fame consideration next year.

Edwards’ 28 wins includes the 2015 Coca-Cola 600 and 2015 Southern 500. He won four Cup races at Bristol and Texas, his highest victory total at any track. Edwards also won 38 Xfinity races in 245 starts.

At the end of the interview Wednesday, Edwards was asked if he had any final words for fans.

“I think I would just say thank you to everybody,’’ he said. “Thank you to the fans, the competitors and everyone, the tracks and NASCAR. That part of my life was just spectacular. I wouldn’t trade one second of it for anything. And then I would say, I just hope everybody out there is enjoying what they’re doing and you’re getting the most out of every day and really having fun.’’

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