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BK Racing to be sold to satisfy creditors

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CHARLOTTE, N.C. — BK Racing will be sold, the court-approved trustee operating the team said after a hearing Tuesday. Discussions are underway.

“We’re selling a race team, we’re not just selling a charter,’’ said Matt Smith, the trustee operating the team while it is in Chapter 11 bankruptcy. “So the charter is the largest asset in this case but it’s not the only asset. This is a viable race team and we’re trying to prove that each and every week. We’re meeting obligations of NASCAR by showing up and competing in good faith.

“This isn’t just a liquidation. What brings the best result to all creditors is the sale of a race team not just the sale of an asset.”

Smith would not reveal any potential suitors but said: “We’re looking at buyers that we would think do right by this team, that would be good for NASCAR, good for creditors and good for the employees. We’re looking for the right buyer that has the right offer for this team.”

Smith said that there have been conversations with “parties about their interest and trying to understand what their interest is and how they might be interested in putting an offer together.”

Any sale would have to be approved by the court and the trustee would have to show that he got the best price for the sale. Smith had no timetable for when the sale could be completed but said it would be “as soon as it is practical and works for the buyers and works for the requirement of the bankruptcy court.” Smith said that any buyer would get the team and not the liabilities the team faces.

“I think there needs to be a change in ownership in the team, and I think this process will do that,” Smith said. “I’m working really, really hard to make sure we get the right outcome for this team.”

Ron Devine was among those who started the team. BK Racing made its Cup debut in 2012. Devine had been a part of the ownership since. With mounting bills, including $9.25 million owed to Union Bank & Trust, BK Racing filed for Chapter 11 bankruptcy on Feb. 15, three days before the Daytona 500. Devine said he made the filing to keep the bank from taking control of the team’s charter and selling it to reclaim money from loans owned.

Smith was approved by the court on March 28 to take over as trustee and operate the team, relieving Devine of his duties.

Gray Gaulding has driven the team’s No. 23 car all season. Gaulding finished 31st Sunday at Michigan International Speedway. The team is 35th in the car owner standings and ranks ahead of only one other team that has a charter.

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Justin Allgaier dominates in Xfinity win at Iowa Speedway

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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

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 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

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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

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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.

Kyle Larson wins Ohio Sprint Speedweek race at Eldora

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A night after wrecking and heavily damaging his car, Kyle Larson came back to win round two of the Cometic Gasket Ohio Sprint Speedweek series Saturday night at Eldora Speedway.

Larson, competing in the first six rounds of the nine-round series with the Cup Series off this weekend, held off former NASCAR driver Dave Blaney late to win the A feature. Blaney fell to third on the last lap. Carson Macedo was second.

Rico Abreu finished 10th. Tony Stewart, who won the B feature, placed 16th. Kasey Kahne was 20th.

The victory is Larson’s first in the Arctic Cat All Star Circuit of Champions at Eldora. It is his seventh victory in the series.

“I made a mistake last night and it cost us a car,” Larson said, according to the Arctic Cat All Star Circuit of Champions report. “This really makes up for that. I’ve now won in every kind of car I have ever raced here at Eldora. That’s pretty cool considering I’ve only raced here like 10 times.”

Ohio Sprint Speedweek continues Sunday at Waynesfield Raceway Park.

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