STATESVILLE, N.C. -- For those who ever wondered whether Kyle Busch is exaggerating when he says it takes $3 million to $4 million to field a competitive Camping World Truck Series team each year, there are now public documents proving he is not.
Kyle Busch Motorsports is suing its former driver Justin Boston and Zloop, the computer-recycling company co-founded by Justin's father, Bob, alleging they missed $650,000 in payments as part of their $3.2 million annual deal that had Boston driving a KBM truck.
Boston and Zloop made their first five payments on time for a total of $1.55 million but are alleged to have missed payments due in May and June, according to the lawsuit filed Friday in North Carolina Superior Court in Iredell County. KBM claims it is owed $4.025 million for the alleged default on the contract, a two-year deal originally worth $6.4 million. The contract was based on a 23-race schedule, so the 46 races work out to Boston paying KBM $139,130 per race.
The KBM lawsuit includes the contract between the team and Boston, who had three top-10 finishes in his nine starts.
While he was bringing the sponsorship, Justin Boston was getting paid $3,000 per race plus 40 percent of the purse (not including the television portion of the purse, which all went to KBM). He would also get $50,000 if he won the truck title, $7,500 for a race win, $1,000 for a pole and $15,000 if he finished second through fifth in the points for the season.
It could be awhile before KBM gets any of the money it claims it is owed. Zloop filed for Chapter 11 bankruptcy in early August to reorganize its finances. Bob Boston is mired in a $28 million lawsuit from a former Zloop investor who claims Boston lied to him about the value of Zloop and did not use his investment as intended, including spending money on Justin's racing career as part of a Zloop marketing program.
Because Zloop is in bankruptcy, all of KBM's claims against Zloop will be determined in Delaware bankruptcy court. The claims against Justin Boston could continue in North Carolina.
KBM isn't the only company affiliated with racing that is looking for money out of Zloop. According to its bankruptcy filing, Zloop owes Bristol Motor Speedway $131,250, Kentucky Speedway $75,000 and Pocono Raceway $36,601.
Zloop also owes the Carolina Panthers $87,000 for its annual suite, a contract that Zloop is trying to get out of for this upcoming football season.
An attorney for Boston in his bankruptcy proceeding declined comment on the suit. Kyle Busch Motorsports also had no comment.