A post shared on Facebook claims NASCAR filed for bankruptcy because of “conservative boycotts” after the series banned the Confederate flag.

Verdict: False

NASCAR hasn’t filed for bankruptcy. The story was first published as satire.

Fact Check:

NASCAR announced on June 10 that the Confederate flag would be prohibited from its events and properties. The post, dated July 28, alleges NASCAR has been forced to file for bankruptcy due to “conservative boycotts” over the move.

“We shouldn’t have stepped on their rights. It’s that simple,” Joe Barron, the alleged NASCAR spokesperson, is quoted as saying in a statement. “We made a bad choice and we are deeply sorry. We underestimated the power of a conservative boycott and we now realize we have to listen to this large portion of the population who have been silenced for too long.”

The supposed spokesperson goes on to announce that NASCAR is “reversing the flag ban” and that the series is “hurting for cash.” (RELATED: Did Trump Tweet That The Confederate Flag Is A ‘Symbol Of Love’?)

However, NASCAR does not appear to have actually filed for bankruptcy. Had it done so, it would have been picked up by major media outlets, yet none have reported on it. NASCAR also doesn’t mention a bankruptcy filing or a reversal of its Confederate flag ban on its website or in its social media posts.

The Facebook post’s text lifts word-for-word from an article on Bustatroll.org, a parody news website that describes itself as belonging to a network that publishes “parody, satire, and tomfoolery.” Barron, a fictional character, often appears in satirical articles from Bustatroll and other websites in the satire network.

Though Bustatroll states that “everything on this website is fiction,” its articles often get posted elsewhere without a disclaimer about the satirical origins of the content, a common way misinformation spreads online.