BK Racing team charter to be decided in court

BK Racing

A North Carolina judge will conduct a hearing next Monday to determine whether to appoint a receiver selected by Union Bank to operate BK Racing and either sell or lease out the team's charter, which would guarantee a spot for all 2018 races including the Feb. 18 Daytona 500.

Having determined the bank has established that BK Racing owes it more than $8M in unpaid loans and fees, the court issued a temporary restraining order Friday that prohibits BK Racing from selling or leasing the charter or any assets until the hearing.

While the bank also claims it has rights to the charter BK Racing sold to Front Row Motorsports prior to the 2017 season and was then leased to TriStar Motorsports, it does not seek immediate control of that charter, which would remain in control of Front Row. Bob Pockrass/ESPN