We may be seeing the end of one NASCAR racing team.
Recently, we’ve seen multiple reports of BK Racing going through financial problems… but this latest report may top them all.
NBC Sports has reported that BK Racing has been issued a tax lien. A tax lien is when the IRS seizes your property due to lack of payment of taxes.
Maybe this wouldn’t be a HUGE deal if it weren’t for the fact that this is the third tax lien issued to the team this year.
The tax lien issued Tuesday to the North Carolina Secretary of State’s office against BK Racing is for $180,794.97. The lien is for the tax period ending March 31.
BK Racing owner, Ron Devine, stated at an earlier date that the IRS told him as long as BK Racing stayed current, they wouldn’t issue another lien.
“No more effort to collect as long as BK Racing stays current. It’s an agreement we worked out with them. We’re working out our differences on the past stuff. The IRS has been nothing but great to work with. They’ve been very accommodating and we’re very pleased with that. Our relationship with them is good.”
This report is coming just weeks after BK Racing announced a dispute between them and and former driver, Gray Gaulding. Overall, Devine stated that the team had a $2 million agreement for GGR Enterprises to pay the team for Gaulding to drive the car this season. The report stated that monthly totals of $200,000 from GGR Enterprises to BK Racing were late in March (by seven days) and April (11 days).