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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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Tyler Reddick wins Charlotte Xfinity race

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CONCORD, N.C. —  Tyler Reddick won Saturday’s Alsco 300 at Charlotte Motor Speedway, earning his second Xfinity Series win of the season.

Reddick led the final 16 laps after he took advantage of Cole Custer spinning his tires on a restart.

Reddick beat Justin Allgaier, Jeffrey Earnhardt, Noah Gragson and Justin Haley.

The Richard Childress Racing driver led 110 of 200 laps on the way to his fifth career Xfinity win. The victory follows his Talladega win last month. Reddick has finished in the top four in the last eight races.

Pole-sitter Christopher Bell finished 31st after he made contact with the wall and cut down his right front tire with two laps to go in Stage 2. He attempted to finish out the stage, but the tire shredded and caused significant damage to his car. It’s his second DNF of the season.

Bell’s teammate, Brandon Jones, also got into the wall and cut a tire within a lap of Bell. Jones opted to pit immediately and was able to continue and finished ninth.

STAGE 1 WINNER: Christopher Bell

STAGE 2 WINNER: Tyler Reddick

WHAT’S NEXT: Pocono Green 250 at Pocono Raceway at 1 p.m. ET on June 1 on FS1

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Daniel Suarez fastest in final Coca-Cola 600 practice

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CONCORD, N.C. — Daniel Suarez completed a sweep of Saturday’s two Cup practice sessions by posting the top speed in final practice for the Coca-Cola 600.

Suarez recorded a speed of 180.704 mph around Charlotte Motor Speedway. He made 51 laps in the session.

“I will say one of the best (cars of his Cup career) for sure,” Suarez said. “I feel like this year I’ve had some good race cars with an opportunity to finish in the top five and top 10, but I feel like this car has been pretty solid.  It’s fast and it’s not comfortable to drive 100 percent, but I don’t feel like anyone out there is comfortable right now, so it’s been sunny and hot and slick and that makes things a little bit more difficult, but overall my team has been doing a very good job with Stewart-Haas Racing and Ford Performance.  We have a good piece and hopefully we can take advantage of it tomorrow.”

The top five was completed by Daniel Hemric (180.686 mph), Denny Hamlin (180.553), Ryan Preece (180.469) and Kyle Busch (180.276).

“I felt pretty good with our practice there,” said Hamlin, who will start 20th Sunday. “It was one of our better practices of the year. We’re going to have to start from deep in the field, which is going to be a challenge with traffic, but we’ve got a long race to get it done. Pretty happy with where we’re at.”

Busch has the best 10-lap average at 179.485 mph

Chase Elliott recorded the most laps in the session with 62. He was 18th on the speed chart.

Click here for the speed chart.

Christopher Bell wins pole for Xfinity Charlotte race

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CONCORD, N.C. —  Christopher Bell will start first in today’s Xfinity Series race at Charlotte Motor Speedway.

Bell won his third pole of the season with a speed of 184.313 mph. His previous poles were at Texas Motor Speedway and ISM Raceway.

The top five is completed by Cole Custer (183.187 mph), Tyler Reddick (182.192), Austin Dillon (181.659) and Brandon Jones (181.610).

Justin Haley will start 35th after an axle broke on his No. 11 Chevrolet in the middle of his qualifying run.

Ross Chastain did not finish his qualifying run after experiencing an electrical problem in the ignition on his No. 4 Chevrolet. He will start 37th out of 38 cars.

The Alsco 300 is scheduled to start at 1:16 p.m. ET on FS1.

Click here for the starting lineup.

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

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After a two-week break, the Xfinity Series returns to action today for the Alsco 300 at Charlotte Motor Speedway.

Here’s all the info you need for today’s race.

(All times are Eastern)

START: North Carolina Basketball Legend Phil Ford will give the command to start engines at 1:07 p.m. The green flag is scheduled for 1:16 p.m.

PRERACE: Driver/crew chief meeting is at 10:45 a.m. Driver introductions begin at 12:30 p.m. The invocation will be given at 1 p.m. by Billy Mauldin, CEO and President of Motor Racing Outreach. U. S. Marine Corps Lance Corporal Marc Wilka will perform the National Anthem at 1:01 p.m.

DISTANCE: The race is 200 laps (300 miles) around the 1.5-mile track.

STAGES: Stage 1 ends on Lap 45. Stage 2 ends on Lap 90.

TV/RADIO: FS1 will televise the race. Coverage begins at 12:30 p.m. The Performance Racing Network’s radio broadcast begins at 12:30 p.m. and also can be heard at goprn.com. SiriusXM NASCAR Radio will carry PRN’s broadcast.

FORECAST: wunderground.com calls for a high of 90 degrees and a 20% percent chance of rain for the start of the race.

LAST TIME: Brad Keselowski won this race over Cole Custer and Christopher Bell.

STARTING LINEUP: Click here for the starting lineup.