Who is Chris King?

[Chili]

Saw the article on Chris King running 10-12 events in Nitro FC this year. The article doesn’t divulge much information other than he got his license with the help of Paul Smith and Paul Richards Racing. http://www.competitionplus.com/drag-racing/news/chris-king-set-for-nitro-fc-debut

Looks like Fireade is his major sponsor from his pic. Who’s car is he driving and who is tuning him?

Always great to see some new blood and gives us another independent racer to root for.

 

[MHayes]

The article doesn’t divulge much information other than he got his license with the help of Paul Smith and Paul Richards Racing.

I think you may want to reread the article if that is all you got from it! It tells who he is, what he does for a living and what they are trying to accomplish with the car, besides the fact that it's something that he has always wanted to do.

 

[Jim]

If the foundation piggy-backs on the exposure at the track, I'm OK with it.
If they fund the racing.....not so much.
Terry Chandler did it right. It's not at all clear from the article how this deal is supposed to work.

 

[Jeff]

If you can help Fireade make contacts to sell more of their superior and likely high margin product, they likely see fit to help fund a means for you to go racing (and also give them more exposure). Drag racing is a great venue for their exposure, but I'm guessing that it starts more by helping them make direct contact with major potential users of their product. Seems like a great deal to have a non automotive company who gets major value from the product the NHRA offers.

Just note that there are private foundations and public foundations .... Jim if this guy has a private foundation and he can get Fireaid and not the general public to fund it, why do you have an issue with it? Let's check the winners and losers:
1.Fireaid funds things that help the general public (first responders) and their business and they get a tax deduction for it.
2. The foundation gets money and pays the costs of its public display of racing, and funds some charitable needs (hmmm, there are a number of sports that have used this model AND paid HUGE salaries .... and some not so huge salaries .... like the organization that promotes our sport).
3. Given the models available the IRS isn't ahead or behind .... private foundations have some specific limits that are not as advantageous as public charities.

Now is this more tax effective than the way I chose to race .... absolutely, my racing is a hobby. Is his method likely perfectly allowed and not hurting any non-informed donor .... very likely it is.

Terry did it her way, but that doesn't make it the only way.

 

[Jim]

Thanks for the info Jeff.
I'm not a tax expert (and, frankly, hate paying 'em) but to the extent non-charitable activities and high salaries take away from the essential aims of a particular charitable entity, I'm uncomfortable.
That said, if a company wants to spend money sponsoring a car to enhance their brand awareness (that's called advertising - it oughta' be fully deductible), I'm good with it.
Again, I just wasn't clear how the charity ties-in with Chris' deal and you've shared more info about your deal than is any of my business, so, thanks again.

.

Now is this more tax effective than the way I chose to race .... absolutely, my racing is a hobby. Is his method likely perfectly allowed and not hurting any non-informed donor .... very likely it is.

Terry did it her way, but that doesn't make it the only way.

 

[Gator]

Chris is a good buddy of mine who has worked with Andy Bohl for years, made connections and taught me a lot. Thier deal is exactly like Terry Chandler did. It is all outside funding for the racing, and the Foundation is used to bring awareness to Fire and Burn Prevention and Safety. $.90 of every dollar goes straight to the Foundation.

 

[Gator]

Also, more news about the tuner and schedule will be coming once they have the T's crossed and lower case J's dotted.

 

[Chili]

Also, more news about the tuner and schedule will be coming once they have the T's crossed and lower case J's dotted.

Thanks for the info. Always great to see another competitor and the chance for a guy to live his dream!

 

[Nemo]

Chris is a Chicago fireman, I see him at fire training events and conferances around the country (he also builds and sells fire training props). Been working on this for a while, hopping he does well.

 

[funny car fireman]

If the foundation piggy-backs on the exposure at the track, I'm OK with it.
If they fund the racing.....not so much.
Terry Chandler did it right. It's not at all clear from the article how this deal is supposed to work.

Absolutely ZERO money will come from the foundation. All outside funding.... That being said we will work to raise money and awareness for the foundation and push our fire safety initiative across the country. Thanks for the support!!