How The Liverpool FC Sale May Bankrupt A NASCAR Team

Kasey Kahne Nascar

Photo: Flickr/jlbruno

FOXSports is reporting that Richard Petty Motorsports may not be able to finish the NASCAR season after having cars engines repossessed by the supplier.The news comes just days after driver Kasey Kahne was released by the team, the result of ongoing disputes with crew members over the lame cars he’s been saddled with.

The team defaulted on a $90-million loan in February and has been limping along all season, with the owners hoping to find a new influx of cash that could solve their debt woes and make the team competitive again.

But that all ended when Boston Red Sox owner John Henry bought Liverpool FC at a fraction of the price that owners Tom Hicks and George Gillett were asking for.

You see, Gillett is also the majority owner of Petty Motorsports, while Henry co-owns Roush Fenway Racing–the same company that just cut off Petty’s supply of engines and chassis.

Gillett and Hicks have vowed to sue Henry for damages, claiming that the sale was a “swindle” that cost them hundreds of millions in profit. Surely, Gillett was hoping to use the proceeds to prop up his racing team, but with the sale coming up short, lawsuits on the horizon, and the inevitable bad blood with between sports owners, Roush Racing is understandably not interested in doing more business with him. Since they clearly can’t pay their bills, it’s doubtful that anyone else will be either.

Without more cars coming and cash drying up, crew members have reportedly been told that this weekend’s race at Martinsville Speedway may be their last.

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