Getty Images

Investment group purchases minority ownership share of BK Racing

4 Comments

The Lynch Racing Co., a division of Sport Venture Group, announced Friday that it has acquired a minority ownership share in NASCAR Cup organization BK Racing from Iowa City Capital Partners.

“We’re constantly trying to improve and I think this is a step in the right direction to do that,” BK Racing majority owner Ron Devine told NBC Sports in a phone interview. “I think it’s a welcoming transaction for us and I’m excited about it. There’s a lot of work to do between now and that green flag at Daytona, but we’re on it.”

Devine said discussions are still taking place with Lynch Racing/SVG to gauge how much involvement there will be, but added, “I’m pleased, let’s just say that.”

“We look forward to working with Ron (Devine) going forward to enhance the value of the charter(s),” Ron Konersmann, Chairman of Sport Venture Group, said in a media release.

Anthony Marlowe, owner of Iowa City Capital Partners, is selling his share of BK Racing to Lynch Racing/SVG to focus on other areas of NASCAR involvement.

“Short term, I plan on moving from owner to sponsor, perhaps even a Series partner,” Marlowe told NBC Sports. “Long term, I am open to reinvesting in the sport if the right opportunity presents itself.

“With the right strategy, I think NASCAR can re-grow its market share. It needs to find a way for teams to build franchise value. … I’ve been a fan myself for many years, proud to have been involved, I proposed to my wife at the track. We love racing.”

An investor and entrepreneur, Marlowe purchased 15 percent of Swan Racing in 2013, then acquired 49 percent of Swan’s assets as it was closing and merged them into BK Racing in April 2014 for a 10 percent share of BK Racing.

BK Racing was founded in 2012 when Devine and Wayne Press acquired Red Bull Racing. It fields two teams in the NASCAR Cup Series and holds a NASCAR charter for the No. 23 Toyota Camry and the No. 83 Toyota Camry. BK Racing holds a NASCAR charter for the No. 23, but does not have a charter for the No. 83, having sold its charter before the 2017 season.

The No. 23 finished 35th in the 2017 Cup season owners standings, while the No. 83 was the highest-finishing “open” (unchartered) car in Cup, finishing 36th in the owners standings with a rotating cast of drivers.

“Without Ron, the majority owner, and managing partner, subsidizing the team, the team wouldn’t exist,” Marlowe said. “The reality is that most teams across all of the motorsports around the world, including stock car racing, at all levels operate because of someone like Ron. Ron at this stage in his life races for a living, and is determined to make it work in NASCAR.”

Marlowe said the addition of a venture group as an investor in BKR could help take the organization to bigger heights.

“The team has been dramatically underfunded vs. other teams since before my involvement, due to limited sponsorship sales, and lack of a competitive engine program,” Marlowe said. “I think it is clear to all incoming, outgoing and existing parties that some significant changes would go a long way to ensure it continues as a viable entity.”

Results, Xfinity point standings after Iowa

Getty Images
Leave a comment

Justin Allgaier had a career day, leading 182 laps and sweeping all three stages in his win at Iowa Speedway.

The JR Motorsports driver claimed his seventh career Xfinity win.

Allgaier was followed by Christopher Bell, Daniel Hemric, Cole Custer and Brandon Jones.

Click here for results.

Points

After his second straight finish of 28th or worse, Elliott Sadler‘s point lead after 14 races is down to a four-point advantage over Custer.

The top five is completed by Hemric (-7 points), Tyler Reddick (-31) and Bell (-3).

After his win Sunday, Allgaier is sixth in the standings, 51 points back from his JR Motorsports teammate.

Click here for the full standings.

Justin Allgaier dominates in Xfinity win at Iowa Speedway

Getty Images
Leave a comment

Justin Allgaier fended off Joe Gibbs Racing’s Christopher Bell to win Sunday’s Xfinity Series race at Iowa Speedway.

Allgaier held Bell and the rest of the field at bay in a 12-lap shootout to capture his second win of the year.

The top five was completed by Daniel Hemric, Cole Custer and Brandon Jones.

Allgaier led a career-high 182 laps and swept every stage.

“We had a great car today, these guys did a fantastic job,” Allgaier told Fox Sports 1.

The JR Motorsports driver took the lead for the first time with two laps to go in Stage 1 when he passed pole-sitter Austin Cindric.

The win qualifies Allgaier for the playoffs. His first win at Dover was disqualified toward playoff contention after his car failed post-race inspection.

Bell placed second after starting from the rear. His car failed to get through qualifying inspection, resulting in him not making a qualifying attempt.

“Man, I just needed to be in front of (Allgaier)” Bell told FS1. “It was really good on the bottom in both corners. I just didn’t have enough to clear him.”

STAGE 1 WINNER: Justin Allgaier

STAGE 2 WINNER: Justin Allgaier

MORE: Race results, point standings

WHO HAD A GOOD DAY: Christopher Bell earned his fourth top-two finish of the season … Daniel Hemric claimed his fourth top-three finish in the last five races … Riley Herbst placed sixth in his series debut … Justin Haley placed 12th in his debut … Kaz Grala placed 10th for his second top 10 in four starts for Fury Race Cars … Ty Majeski finished seventh, giving Roush Fenway Racing’s No. 60 team its first top 10 of the season.

WHO HAD A BAD DAY: Elliott Sadler cut a tire and got into the wall late in Stage 1. He finished 28th for his second straight finish outside the top 25. He had finished in the top 10 in the first 12 races … Brandon Hightower wrecked with 17 laps to go to set up the final restart. He finished 30th.

WHAT’S NEXT: Overton’s 300 at Chicagoland Speedway at 3:30 p.m. ET on June 30 on NBCSN

Austin Cindric wins pole for Xfinity race at Iowa Speedway

Getty Images
Leave a comment

Austin Cindric won the pole for tonight’s Xfinity Series race at Iowa Speedway, claiming his first career pole.

The Team Penske driver earned the pole with a top speed of 131.409 mph.

The rookie is followed by Daniel Hemric (130.988 mph), Brandon Jones (130.836), Elliott Sadler (130.532) and Cole Custer (130.435).

“It’s huge for me, it’s a huge weight off my shoulders as well …Being so close to so many poles these last few races with these Penske guys,” Cindric told Fox Sports 2.

Kaz Grala will make his best-career start in eighth. Joe Gibbs Racing’s Riley Herbst will start ninth in his series debut.

Seven of the starting top 10 have never won a series race.

Justin Haley will start 13th. He will be followed by Shane Lee, John Hunter Nemechek, Ross Chastain, and Ty Majeski.

Christopher Bell and Ryan Reed will start from the rear after they failed to get through inspection in time to make a qualifying attempt.

The race is scheduled to start at 5:14 p.m. ET.

Click here for qualifying results.

Today’s Xfinity race at Iowa: Start time, lineup and more

Photo by Daniel Shirey/Getty Images
Leave a comment

The NASCAR Xfinity Series enjoys the spotlight with the Cup Series off and no Cup drivers competing in today’s race at Iowa Speedway.

There’s a good chance of seeing a new winner for this season. Only three drivers who have won this year (Tyler Reddick at Daytona, Christopher Bell at Richmond and Justin Allgaier at Dover) are entered in today’s race.

Here are the details for today’s race.

(All times are Eastern)

START: Craig Abel will give the command to start engines at 5:07 p.m. The green flag is scheduled to wave at 5:14 p.m.

DISTANCE: The race is scheduled for 250 laps (218.75 miles) around the 0.875-mile track.

STAGES: Stage 1 ends on Lap 60. Stage 2 ends on Lap 120.

PRERACE SCHEDULE: Garage opens at 11 a.m. Driver/crew chief meeting is at 2 p.m. Qualifying is at 2:35 p.m. Driver introductions are at 4:30 p.m.

NATIONAL ANTHEM: Specialist Michelle Monroe from the Iowa National Guard 34th Army will perform the anthem at 5:01 p.m.

TV/RADIO: Fox Sports 1 will broadcast the race beginning at 5 p.m. Coverage begins at 4:30 p.m. Motor Racing Network’s radio broadcast begins at 4:30 p.m. and also can be heard at mrn.com. SiriusXM NASCAR Radio will have MRN’s broadcast.

FORECAST: wunderground.com calls for mostly sunny skies with a high of 90 degrees and zero percent chance of rain at the start of the race.

LAST TIME: William Byron won this race last June. Ryan Sieg was second. Tyler Reddick placed third. Ryan Preece won the July race. Kyle Benjamin was second. Brian Scott placed third.

STARTING LINEUP: Click here for the lineup.