BK Racing will be sold, the court-approved trustee operating the team said after a hearing Tuesday, NBC Sports reported. “We’re selling a race team, we’re not just selling a charter," said Matt Smith, the trustee operating the team while it is in chapter 11 bankruptcy. “So the charter is the largest asset in this case but it’s not the only asset. This isn’t just a liquidation. What brings the best result to all creditors is the sale of a race team not just the sale of an asset.” Smith would not reveal any potential suitors but said: “We’re looking at buyers that we would think do right by this team, that would be good for NASCAR, good for creditors and good for the employees. We’re looking for the right buyer that has the right offer for this team.”
