Kyle Busch Motorsports has dropped its lawsuit against Rev Racing … an indication that likely means an out of court settlement was largely reached.
The lawsuit was filed on February 12 and sought $325,000 plus interest and attorney fees over unpaid payments tied to its 2023 NASCAR Craftsman Truck Series alliance. That agreement called for KBM to field an entry for driver Nick Sanchez under the Rev Racing banner for $2.9 million.
The filing stated that Rev had only paid $2.575 million dollars.
Specifically, the lawsuit states that Rev Racing agreed to pay 10 monthly installments of $290,000 beginning on January 15 of last year. It states that Rev Racing made those payments through August before an untimely and incomplete payment of $145,000 in September and no payment in October.
The filing also states that Rev Racing recently made a $110,000 payment and that KBM made efforts to communicate its intent to receive the remaining amount. Rev Racing, which is owned by Max and Jennifer Segal, operates under an official partnership with NASCAR’s Drive for Diversity program.
Both Rev and the Drive for Diversity program competes in the Truck Series, ARCA and in the Late Model ranks and provides a pathway for minority racers and motorsports specialists to further their careers at the highest levels in the discipline.
Sportsnaut story from February
Busch sold the Truck Series assets, including vehicles and the shop, to Spire Motorsports in October. Rev Motorsports now has a similar partnership with Spire and even won the season opener at Daytona with Sanchez. Busch made five starts for Spire earlier in the season as part of a consultation role that came with the purchase.
Matt Weaver is a Motorsports Insider for Sportsnaut. Follow him on Twitter.