Ronald Devine Faces Legal Battle: In the world of NASCAR, former Cup Series team owner Ronald Devine finds himself in legal jeopardy, potentially facing a five-year prison sentence and $250,000 in fines due to a payroll tax indictment. The US Attorney’s Office in Western District, North Carolina, has leveled four counts of failure to pay payroll taxes against Devine, the once-prominent figure behind BK Racing.
Devine’s NASCAR journey was significant, spanning from 2012 to 2018, before financial woes led to the team’s bankruptcy and the subsequent sale of its charters to Front Row Motorsports. Attempting a financial turnaround, the team filed for Chapter 11 bankruptcy in 2018, just before the Daytona 500.
With debts exceeding $8 million, the team’s charters were eventually sold to Front Row Motorsports for $2.08 million, marking a fresh start. However, in 2023, allegations surfaced, focusing on Devine’s management of the team’s finances since 2012, particularly the failure to pay payroll taxes for employees.
The IRS claims the team owes approximately $390,000 in payroll taxes for the year 2017. The indictment further alleges that Devine diverted around $2 million of these funds to pay utility and vendor bills for the team, as well as channeling the money into his other business ventures.
At the center of the accusations are payroll taxes, deductions made from employees’ gross pay, intended to support Social Security and Medicare. With four indictments hanging over the 67-year-old former owner, an initial court appearance in Charlotte will shape the trajectory of the case.
Amidst these legal challenges faced by past NASCAR teams, the sport forges ahead as the championship weekend for all three national series approaches.
As anticipation builds for the upcoming race weekend, the NASCAR Truck Series gears up for the Baptist Health Cancer Care 200 at Homestead-Miami Speedway. Here’s the full entry list:
#02 – To Be Announced #04 – Spencer Davis #2 – Nick Sanchez #4 – Chase Purdy #5 – Dean Thompson #7 – Marco Andretti #9 – Colby Howard #11 – Corey Heim #12 – Spencer Boyd #13 – Hailie Deegan #15 – Tanner Gray #16 – Tyler Ankrum #17 – Taylor Gray #19 – Christian Eckes #20 – To Be Announced #22 – Mason Maggio #23 – Grant Enfinger #24 – Rajah Caruth #25 – To Be Announced #30 – Jonathan Shafer #33 – Memphis Villarreal #35 – Jake Garcia #38 – Zane Smith #41 – Bayley Currey #42 – Carson Hocevar #43 – Daniel Dye #45 – Lawless Alan #46 – Armani Williams #51 – Jack Wood #52 – Stewart Friesen #56 – Tyler Hill #61 – Jake Drew #88 – Matt Crafton #98 – Ty Majeski #99 – Ben Rhodes
Mark your calendars for the live broadcast on October 21 at 12:00 pm ET, and stay tuned for the thrilling NASCAR action.
ALSO READ: Stefan Parsons: Rising Star Takes the Wheel at Phoenix
Our Reader’s Queries
Who owned BK Racing?
Ronald Devine, a 67-year-old resident of Burke, Virginia, has been indicted by a grand jury on four counts of failing to pay payroll taxes. The U.S. Attorney’s Office in Charlotte has confirmed that Devine was the owner and president of BK Racing, a NASCAR racing team that owned two NASCAR charters.
