Long-time NASCAR Xfinity Series organization JD Motorsports is working towards reorganizing its financial and operational affairs, following the team’s Chapter 11 bankruptcy filing on April 8.
The organization was able to successfully field a pair of entries in the NASCAR Xfinity Series from April until mid-July when it was reported by TobyChristie.com that JD Motorsports had begun laying off employees.
In the series’ most recent event at Indianapolis Motor Speedway, which took place this past weekend, JD Motorsports did not have an entry present, despite reports from sources that the team intended to do so.
A press release from the team on Wednesday states that its shop, located outside of Gaffney, South Carolina, “remains functional” as team owner, Johnny Davis, works towards “reorganizing the team’s finances and direction after filing for bankruptcy protection”.
“We’re here working toward racing,” said Davis. “Racing has been a part of my life since I heard the first race engine. It’s what we want to do, and we want to do it well. We want strong cars and a strong program we can sustain.”
Since 2002, Johnny Davis has been the owner of a full-time NASCAR Xfinity Series team and has contributed to the careers of drivers such as Ross Chastain, Ryan Preece, Landon Cassill, and Jeremy Clements.
Chastain, a four-time NASCAR Cup Series winner and perennial championship contender, is considered the organization’s most noteworthy graduate, having risen to stardom after years of competing for JD Motorsports.
“It has been a particular point of pride in our shop that drivers have started here and gone on to do very well,” Davis said. “We give people a good launching pad.”
According to Davis, lagging purses and rising expenses have made it increasingly difficult to compete in the NASCAR Xfinity Series, especially for the organizations that sometimes struggle to keep up with the sport’s more funded operations.
“What we are able to gather in sponsorship and the small winnings from purses can’t keep us doing what and how we want to do,” Davis added. “It’s simply a matter of math.”
During this reorganization period for JD Motorsports, Davis is committed to continue building race cars and focus on what is happening in the sport, and how a reorganized version of his team can slot in.
“Some of the biggest companies in the country have reorganized through bankruptcy,” Davis said. “We’re pushing forward.”
