Front Row Motorsports is being sued over ownership of one of its charters.
Prior to the 2017 season, Front Row purchased the charter BK Racing had used for its No. 83 car. The charter was the third in Front Row’s stable, but since they only fielded two cars, the organization leased the charter out to TriStar Motorsports. That charter now returns to Front Row to be used at their discretion for 2018.
However, ESPN.com reports a lawsuit has been filed by Union Bank & Trust in Virginia, which claims it has the rights to the charter and is asking for the court to determine who owns it. Additionally, the bank is claiming it has the rights to sell the other charter BK Racing used during the season for the No. 23 car.
BK Racing, according to the lawsuit, owes $9.1 million on a loan and its two charters were offered as collateral. Team owner Ron Devine claims there is land and other property also listed as collateral and the that the lawsuit is just a way to force the issue of him refinancing his loans.
“They wanted to make a big stink about it so that we would react and do stuff that we don’t want to do with them,” Devine said, per ESPN. “We’re working on it. I actually have an agreement with them in place.
“They’re not going to stop [the lawsuit] until we finish, but we have an agreement that will get us cleaned back up.”
The 60th annual Daytona 500 starts the NASCAR season on February 18, 2018. Teams with a charter are guaranteed a spot in each race.