Gray Gaulding, BK Racing Deal Up in Smoke: How Their Futures Impact NASCAR

Being in business for myself for a number of years, I have dealt with all those types of people, on a much smaller scale of course. I could relate to it all. I think the part that wasn't there is if the team owner had sponsors in addition to drivers supposedly bringing their own. Then you have the same thing going on from both sides. Get as much money up front as possible;)
 
A long article in desperate need of a good editor but certainly worth the read. The condensed version for me is that if you are a ride buyer you better have available funds to make the purchase and there are a lot of people blowing a lot of smoke.
 
dpkimmel2001 said:
I'm guessing you made it to the end? That was an awesome look at today's NASCAR. Hopefully some will take the time to get through that link.
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That was a good look at the inner workings of a small underfunded team and the trials a good race car driver face getting into the sport. It was long but definitely worth the read. Thanks for posting it. :cheers:
 
It's been an old statement around short tracks that a local hot shoe was just as good as the big stars in nascar. if they only had the chance to prove it.

the opposite side of the argument said if they were good enough, the money would follow the talent.

I think what Ryan Preece did in Iowa this past weekend proves there is plenty of talent, not enough money.
 
klemmabyna said:
I think what Ryan Preece did in Iowa this past weekend proves there is plenty of talent, not enough money
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What he did this year really impressed me. Instead of buying a ride for the full year in a backmarker he bought 2 races in a JG car for the same money and got what would have been 2 wins if not for the bushwhacker. I wish him well and hope it turns into a good driving gig.
 
Skoalbandit33 said:
A long article in desperate need of a good editor but certainly worth the read. The condensed version for me is that if you are a ride buyer you better have available funds to make the purchase and there are a lot of people blowing a lot of smoke.
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You also better be careful who you're buying your ride from.

klemmabyna said:
It's been an old statement around short tracks that a local hot shoe was just as good as the big stars in nascar. if they only had the chance to prove it.

the opposite side of the argument said if they were good enough, the money would follow the talent.

I think what Ryan Preece did in Iowa this past weekend proves there is plenty of talent, not enough money.
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Bowman was fortunate in that he got a chance to demonstrate his talent after his BK stint.

Johali said:
What he did this year really impressed me. Instead of buying a ride for the full year in a backmarker he bought 2 races in a JG car for the same money and got what would have been 2 wins if not for the bushwhacker. I wish him well and hope it turns into a good driving gig.
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Great point. TV may not pay much attention to what happens in the X series, but the people in the Cup garage do. A ride-buyer may well be better off running a limited number of X rides in a car capable of displaying his talents, as opposed to a full season in an inferior Cup ride that won't show his potential.
 
aunty dive said:
This is an old story that repeats itself across the professional motorsports spectrum.
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We speak ill off Robinson and Devine. They have done a lot of business that may not look good to us.

Yet were not the ones with the hassle of being the injection of money that keeps a team going. Devine seems genuine, but it just shows how hard it is to run a team especially a backmarker. I bet Devine wants to have consistency in terms of drivers, but money makes a team operate.

Devine has done the best with what he has. I still am enamored that TRD will not help BK Racing, they are still purchasing Race Pro Engines.

Just goes to show NASCAR is cut throat.
 
Charlie Spencer said:
You also better be careful who you're buying your ride from.


Bowman was fortunate in that he got a chance to demonstrate his talent after his BK stint.


Great point. TV may not pay much attention to what happens in the X series, but the people in the Cup garage do. A ride-buyer may well be better off running a limited number of X rides in a car capable of displaying his talents, as opposed to a full season in an inferior Cup ride that won't show his potential.
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Yeah Preese made it real simple to grasp, if you have a good car and want to win, put me in it. He didn't solve it all, I wouldn't be all gung ho to put him in a cup car, but anything else? no problem
 
Johali said:
What he did this year really impressed me. Instead of buying a ride for the full year in a backmarker he bought 2 races in a JG car for the same money and got what would have been 2 wins if not for the bushwhacker. I wish him well and hope it turns into a good driving gig.
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Johali: exactly my thoughts. with great respect for the gamble the guy took on himself.

and i'm not so sure there aren't several other talented racers whose skills are over looked by spending time in underfunded race teams, just because it was their once-in-a-lifetime shot at nascar. (go check the results of BK Racing: http://www.racing-reference.info/owner/BK_Racing).

I understand their are very few seats after hendrick/gibbs/rousch/Penske/childress/stewart/ganassi seats are filled. and if you've always had the dream, who wouldn't do whatever it takes? even if your legacy was to be a backmarker on an underfunded team.

cause realistically there are certainly many more younger "phenoms" that can undercut your efforts, needing only a better sponsor package.

again, enjoyed how Preece played the game, with the rules as written for earning a nascar ride..
 
Very interesting read, and yes, I read the entire article.
 
Johali said:
What he did this year really impressed me. Instead of buying a ride for the full year in a backmarker he bought 2 races in a JG car for the same money and got what would have been 2 wins if not for the bushwhacker. I wish him well and hope it turns into a good driving gig.
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He made the smart move, it's safe to say that he would not of made it to VL in one the backmarker teams.
 
StandOnIt said:
in the same vein, reducing cup driver participation might lead to more opportunities like Preese was able to do.
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to be honest, I've leaned against limiting who is allowed to race in any event, any level, anywhere. but you are absolutely correct.

so quit scheduling Winston cup/busch/ and trucks at the same venue on the same weekend.

JMO
 
klemmabyna said:
It's been an old statement around short tracks that a local hot shoe was just as good as the big stars in nascar. if they only had the chance to prove it.

the opposite side of the argument said if they were good enough, the money would follow the talent.

I think what Ryan Preece did in Iowa this past weekend proves there is plenty of talent, not enough money.
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Cubic Dollars has no equal.
 
klemmabyna said:
to be honest, I've leaned against limiting who is allowed to race in any event, any level, anywhere. but you are absolutely correct.

so quit scheduling Winston cup/busch/ and trucks at the same venue on the same weekend.

JMO
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There are only so many tracks that are up to NASCAR's standards for X and Truck racing.
 
Charlie Spencer said:
There are only so many tracks that are up to NASCAR's standards for X and Truck racing.
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Very true, but as many sharper than I have pointed out (Harvick), Trucks should be racing as the feature show on many of these smaller tracks around the U.S. I agree. Nothing like 180 corner speeds, more like 80 and safer walls wouldn't be needed. Probably more medical, but that shouldn't be hard to do. There are some really nice safe tracks around the country that would work with a little effort.IMO ARCA and K&N run on many of them.
 
StandOnIt said:
Very true, but as many sharper than I have pointed out (Harvick), Trucks should be racing as the feature show on many of these smaller tracks around the U.S. I agree. Nothing like 180 corner speeds, more like 80 and safer walls wouldn't be needed. Probably more medical, but that shouldn't be hard to do. There are some really nice safe tracks around the country that would work with a little effort.IMO ARCA and K&N run on many of them.
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I regret my previous response didn't indicate my agreement with Harv and the rest. I think it's a great idea. The two problems are NASCAR accepting the track as suitable, and getting ISC and SMI to cough up some dates, and we all know which is the more difficult part.
 
aunty dive said:
This is an old story that repeats itself across the professional motorsports spectrum.
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Yep. Lots of flaky stuff at the back of the grid. BK Racing is a wart on Nascar's butt. And Gray Gaulding is not even remotely qualified to be in Cup races.

Fortunately, the back of the grid does not define the product. The front of the grid does that. Up to now, the almost-universal way to break into Cup racing in a competitive ride is to demonstrate talent and skill and the potential to do the job at the Cup level. That is what the driver needs to bring; the finance is provided by the team owner. There are a few rare exceptions, but Danica Patrick and Paul Menard do not define Nascar any more than Gray Gaulding does, IMO.

Lots of talk going on about a crisis of sponsorship, Nascar market reset, aging veterans getting displaced by young guns, etc. I hope the path to break into Cup level racing remains the same... to demonstrate the potential to excel on the track. I'm much less concerned about what happens at the back of the grid. Just my $0.02.
 
Yeah there have always been they haves and the have nots in racing. We had a big local fixture company that sponsored 4 identical orange colored cars at a dirt track I went too. They were pretty dominate for years. Ofixco. Emmit Hahan, the co founder of the Chili Bowl and owner of a carpet store, had a single car that used to give the two super modified's of Ofixco fits. Reminds me of young Nemechec racing the mega teams today.
 
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IRS issues tax lien against BK Racing

The IRS issued a tax lien against BK Racing this week, the third tax lien against the organization since in less than a 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.

The IRS tax liens filed April 25 to the North Carolina Secretary of State’s office against BK Racing are for $163,925.76 (tax period ending Sept. 30, 2016) and $322,910.62 (tax period ending Dec. 31, 2016).

The three tax liens total $667,631.35.

The latest tax lien comes in a week when multiple media reports have raised issues about the financial status of the two-car team owned by Ron Devine. (Link to NBC Sports)
 
LewTheShoe said:
IRS issues tax lien against BK Racing

The IRS issued a tax lien against BK Racing this week, the third tax lien against the organization since in less than a 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.

The IRS tax liens filed April 25 to the North Carolina Secretary of State’s office against BK Racing are for $163,925.76 (tax period ending Sept. 30, 2016) and $322,910.62 (tax period ending Dec. 31, 2016).

The three tax liens total $667,631.35.

The latest tax lien comes in a week when multiple media reports have raised issues about the financial status of the two-car team owned by Ron Devine. (Link to NBC Sports)
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This is quite interesting and shows how profitable these back running teams really are. Assuming the IRS is correct a tax lien of over 1/2 million for one year indicates a sizable income.
 
DIDIT said:
This is quite interesting and shows how profitable these back running teams really are. Assuming the IRS is correct a tax lien of over 1/2 million for one year indicates a sizable income.
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You're right that it's an indicator how much income they had. It doesn't say much about being profitable.
 
DIDIT said:
Taxes are paid on profit. That is after all legitimate expenses are deducted. In my opinion, that means they are quite profitable.
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Profits lead to *income taxes* but even without being profitable, employers are required to pay social security taxes and Medicare taxes. Payroll taxes lead to a lot of tax liens.

From the linked article...
"Each issue is with tax form 941, which is an employer’s quarterly federal tax return. The form reports income taxes, social security tax or Medicare tax withheld from employee paychecks."
 
LewTheShoe said:
Profits lead to *income taxes* but even without being profitable, employers are required to pay social security taxes and Medicare taxes. Payroll taxes lead to a lot of tax liens.

From the linked article...
"Each issue is with tax form 941, which is an employer’s quarterly federal tax return. The form reports income taxes, social security tax or Medicare tax withheld from employee paychecks."
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My mistake, you are correct. The liens are for payroll taxes. Charlie also may be right about not being profitable.
The walk of shame for me today.:owquitit:
 
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