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NASCAR Cup: BK Racing gets new minority owner

No. 83 BK Racing Toyota (photo courtesy of Getty Images for NASCAR)

No. 83 BK Racing Toyota (photo courtesy of Getty Images for NASCAR)

By AMANDA VINCENT

Lynch Racing Co., a division of Sport Venture Group, purchased minority ownership of Monster Energy NASCAR Cup Series team BK Racing from Iowa City Capital Partners, Lunch Racing Co. announced Friday.

“We look forward to working with Ron (Devine, BK Racing owner) going forward to enhance the value of the charter,” Sport Venture Group Chairman Ron Konersmann said.

Iowa City Capital Partners owner Anthony Marlowe became 10 percent owner of BK Racing in 2014 when he merged his Swan Racing assets into the race team after Swan Racing shut down. BK Racing was formed in 2012 by Ron Devine and Wayne Press from assets acquired from Red Bull Racing when Red Bull shuttered its NASCAR operations.

“After four seasons as a minority owner in NASCAR’s premier series, I have decided to harvest my investment,” Marlowe said. “It has been a wild ride. I wouldn’t change a minute. I am thankful to Ron and Brenda Devine. Regardless of whether BK Racing ever wins a Cup race one day, they are worthy of my appreciation. It takes great courage to make the investment the Devines have made regarding time and money, not to mention saving my backside from a sudden change in the direction of Swan Racing early in the 2014 season.”

BK Racing has been a two-car Cup Series team and raced with a single charter for its No. 23 team in 2017. The team sold its other charter to Front Row Motorsports prior to the start of the 2017 and ran its No. 83 team as an “open” team during the 2017 season.

The No. 23 team finished the 2017 season 35th in the owner standings, while the No. 83 was 36th, highest among “open” teams.

BK Racing recently has been embroiled in multiple financial matters, including tax liens, former team drivers claiming to have not been paid as promised and a lawsuit between a bank and Front Row Motorsports, with the bank claiming that BK Racing had not right to sell a charter to FRM because of BK Racing’s non-payment of a loan to the bank.

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Posted by on December 3, 2017. Filed under Breaking News,Featured,Monster Energy NASCAR Cup,NASCAR. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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