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Front Row Motorsports bids highest for BK Racing but judge yet to approve sale

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CHARLOTTE, N.C. — Front Row Motorsports was the winning bidder for BK Racing at $2 million it was revealed in U.S. Bankruptcy Court on Tuesday, but the judge did not approve the sale.

Instead, Judge J. Craig Whitley continued the hearing to Thursday after objections from Glenn Thompson, attorney for Race Engines Plus (BK Racing’s engine supplier) and BK Racing car owner Ron Devine.

Thompson told the court that “I think everyone is upset with the outcome except the buyer.” He asked for the extension to see if there was a better solution.

Devine said in court: “The outcome is exactly what I predicted. We ought to slow the train.”

Judge Whitley responded: “You’re the one who started the show.”

Said Devine: “I started the show because of creditors. I started this to stop Union Bank.”

Devine put the team in Chapter 11 bankruptcy on Feb. 15 — three days before the Daytona 500 — to keep Union Bank & Trust from trying to take control of the team. Trustee Matt Smith was put in charge of the team March 28, relieving Devine of decision-making control.

With the extension, Judge Whitley stated in the court Tuesday: “Don’t read … that I’m opening bidding. This is a continuance and nothing more.”

David Schilli, attorney for Union Bank & Trust, which has stated in court documents that BK Racing owes the bank $9 million in loans and accrued interest, objected to the extension.

“The bank is not willing to let the bird in the hand go,” Schilli said in court. “We were hoping for a spirited competition at the auction and it didn’t happen. It’s time for the process to come to an end.”

The bid from Front Row Motorsports topped the $1.8 million bid from Mike Beam, president of GMS Racing. That was set as the minimum for Monday’s auction.

Although Trustee Matt Smith had said earlier this summer in court that there had been 29 interested parties that contacted him about the team or some of its assets, his attorney, Michael Martinez, said: “Frankly your honor, we’re disappointed in the outcome of the sale.” But Martinez asked the judge to approve the sale of the team.

Monday’s auction was said to have lasted about three minutes.

Jerry Freeze, general manager of Front Row Motorsports, said after the hearing that the team had plans for taking in BK Racing but was not ready to announce them. Front Row Motorsports already owns three charters, fielding the teams for David Ragan and Michael McDowell. The team leased its third charter to TriStar Motorsports. Front Row Motorsports bought a charter from BK Racing for $2 million in December 2016.

Devine said the court hearing ended: “I think we have a better offer than that. You can’t have the whole courtroom disappointed with the outcome of sale and then say somehow it worked. I like Bob Jenkins (owner for Front Row). If I don’t have it, I hope he gets it.

“Hopefully, the bank comes to its senses. I felt like the courtroom is finally coming around to realize that this is not the right thing to do.”

In court, Martinez, the attorney for Smith, stated that all that had been sold: Front Row Motorsports bid $2 million for BK Racing and $80,000 assets claimed by Champion Tire and Wheel.

Also, Martinez affirmed the previous sale of equipment to Obaika Racing for $265,000, which included a transporter and 19 chassis in various form from bare chassis to partial body and full body. It also was announced a sale of assets for $35,000 to Rick Ware Racing.

 

Chase Elliott, Kyle Larson to pursue $100K bounty in Truck Series

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The $100,000 bounty on Kyle Busch has its first contenders.

Chase Elliott and Kyle Larson each confirmed Thursday evening on Twitter that they’ll take a shot at the bounty placed by Kevin Harvick and Marcus Lemonis last week.

Elliott will compete in the March 14 Truck Series race at Atlanta Motor Speedway and the May 30 race at Kansas Speedway with GMS Racing. Larson will compete with GMS Racing in the March 20 event at Homestead-Miami Speedway.

Elliott will be sponsored by Hooters for the Atlanta race.

The declarations by the two drivers came the same day that Busch said he didn’t believe any full-time Cup Series drivers would go after the bounty.

Elliott has 12 career Truck Series starts. His last two, at Atlanta and Martinsville in 2017, came with GMS Racing. Elliott won the Martinsville race. Busch was not in that race.

“Once the word got out about the challenge, we were able to put this together with Mike Beam at GMS in just a couple of days,” Elliott said in a press release. “Atlanta is one of my favorite tracks, so I’m really looking forward to getting back into a GMS truck there with Hooters on the truck and make a run for a win.”

Larson has 13 career starts and his last three, including a win at Eldora and top five at Homestead in 2016, came with GMS Racing.

“When I heard about the $100,000 bounty I wanted in!” Larson said in a press release. “I’m thankful for GMS and Chevy giving me this opportunity, Homestead is one of my favorite tracks so looking for to the challenge!”

There’s a potential third bounty hunter waiting in the wings.

Not long after Larson’s announcement, Denny Hamlin, Busch’s Joe Gibbs Racing teammate, tweeted that he’s acquired the funding to field a ride. There’s just one hangup, and it’s Kyle Busch Motorsports:

The $100,000 bounty against Busch was proposed by Harvick and Lemonis, CEO of Gander RV & Outdoors, last week. It will go to any full-time Cup Series driver who beats Busch in any of his remaining four Truck Series starts this year. Busch has won the last seven Truck Series races he’s entered.

If Elliott or no other Cup driver beats Busch in those four races, the bounty will go to the Bundle of Joy Fund, the organization founded by Kyle and Samantha Busch that helps couples who require fertility treatments to conceive.

“We are blessed with this opportunity. To have an owner that is up for the challenge and a manufacturer that will support the extra effort necessary is really special,” said Mike Beam, President of GMS Racing, in a press release. “It’s great to have these two talented young men back behind the wheel for us and to have the extra attention on the Truck series is great.”

Kyle Busch: $100K Truck Series bounty is a losing proposition

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Kyle Busch doesn’t believe any full-time Cup Series driver will attempt to claim the $100,000 bounty placed on him last week by Kevin Harvick and Marcus Lemonis.

Harvick and Lemonis, the CEO of Truck Series sponsor Gander RV & Outdoors, said they’d award that bounty to any full-time Cup Series driver who is able to beat Busch in any of his four remaining Truck Series starts this year.

Busch, who has won the last seven Truck races he’s entered, sees the challenge as a losing investment, especially if someone attempted it in one of Kyle Busch Motorsports’ Toyotas.

Thursday on the Barstool Sports’ “Rubbin’ is Racing” podcast, Busch said it costs $140,000 to rent one of his Trucks for a race.

“Right off the bat (it’s a losing proposition),” Busch said. “It’s not going to happen. Nobody is going to pay the 140 grand to rent a truck, whether it’s from me or from somebody else. (Show co-host Clint) Bowyer didn’t tell you the fact he can’t even rent a truck from me because I’m a Toyota team and he drives for a Ford team. So he has to go find a Ford truck in order to drive. So there’s those complications that fit into all of this, too.”

Denny Hamlin, Busch’s teammate at Joe Gibbs Racing, expressed his interest in the bounty, as well Richard Childress Racing’s Austin Dillon, who said he was “working on” a deal.

After his win last Friday at Las Vegas Motor Speedway, Busch’s four remaining Truck Series starts are:

March 14 at Atlanta Motor Speedway

March 20 at Homestead-Miami Speedway

March 27 at Texas Motor Speedway

May 30 at Kansas Speedway.

If no one beats Busch, the bounty will go to the Bundle of Joy Fund, the organization founded by Kyle and Samantha Busch that helps couples who require fertility treatments to conceive.

NASCAR America presents MotorMouths at 5 p.m. ET

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Today’s episode of NASCAR America’s MotorMouths airs from 5-6 p.m. ET on NBCSN.

Marty Snider hosts and is joined by Kyle Petty, Steve Letarte and Nate Ryan.

James Hinchliffe will call into the show to discuss his new role as an analyst for NBC’s coverage of IndyCar, Indy Lights, IMSA and NASCAR.

You can call into the show via 844-NASCAR-NBC or submit your questions/comments via Twitter using #LetMeSayThis.

If you can’t catch today’s show on TV, watch online at http:/nascarstream.nbcsports.com. If you plan to stream the show on your laptop or portable device, be sure to have your username and password from your cable/satellite/telco provider handy so your subscription can be verified.

Once you enter that information, you’ll have access to the stream.

Click here at 5 p.m. ET to watch live via the stream.

Auto Club Speedway’s old surface provides ‘moving target’ for drivers

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Auto Club Speedway has a lot of character.

It’s a character that comes from the 2-mile track’s racing surface being among the oldest on the NASCAR circuit.

The surface hasn’t been repaved since the track first opened in 1997. That’s the same year that the surface for Atlanta Motor Speedway was last resurfaced (a planned repave was put on hold indefinitely in 2017 after outcry from drivers).

In the 23 years since, races at the track in Fontana, California, have turned into producers of multi-groove spectacles (especially on restarts) that come at the cost of high levels of tire wear.

The aged surface provides a “moving target” to drivers throughout the race weekend, according to Tyler Reddick.

“During the start of the weekend, you have to watch for the seams since it’s so slick out there,” the rookie Cup driver said in a media release. “Normally, the Xfinity cars are the first ones on the track, so I’m normally very careful. Now that I’m in the Cup Series, it may be a little different. I think this weekend will be fairly similar to Las Vegas where we started out running wide open, and I’ll have to run like that until the handling starts to go away in our No. 8 I Am Second Chevrolet (and) you have to start lifting. Then it’ll be important to assess why the handling is changing and how to adjust our car correctly to battle that.”

Cup and Xfinity teams only visit Auto Club Speedway once a year and this will be the second year they’ll do so with the high downforce aero package.

Joe Gibbs Racing’s Erik Jones believes Sunday’s Auto Club 400 (3:30 p.m. ET on Fox) will be a “different race” from the one seen last year.

“Going into Fontana last year, no one really knew what we needed car-wise, balance-wise and this year we have a whole notebook to look back on to try to get better,” Jones, who finished 19th in last year’s race, said in a media release.

“I think there will be a lot more lifting, the cars will be faster. Everybody has just gotten their cars better and more efficient and faster on the straightaways and that makes for more lifting in the corners. It will probably be a little different race, but Fontana is always a good show.”

But that show depends on where a driver chooses to run around the track.

Racing along the top of the track compared to running in the bottom lane proves for “two completely different types of racing” according to defending race winner Kyle Busch.

“You can run from the top to the bottom but, when you run the bottom, you really feel like you’re puttering around the racetrack,” Busch said in a media release. “You feel like you aren’t making up any time on the bottom. But when you are running the top groove, you feel like you’re getting the job done. The guys who run the bottom have a little bit more patience and handle it better than the guys who are on the gas on top.”

When it comes to how rough the track is, Matt DiBenedetto cites how bumpy Turns 3 and 4 are, but said in a media release that traversing the “back straightaway is like going over jumps.”

But just like with the old surface at Atlanta Motor Speedway, there are those who never want to see Auto Club’s surface actually improve.

“I did an appearance at Auto Club Speedway not too long ago and I told the track officials, ‘Whatever you do, don’t repave it!'” Austin Dillon said in a media release. “Or, wait to repave it until you can figure out how to make an asphalt that is very similar to what is on the track now.”

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