If the owner of a motor vehicle (i) is convicted of racing such vehicle in a prearranged, organized, and planned speed competition in violation of § 46.2-865, (ii) is present in the vehicle which is being operated by another in violation of § 46.2-865, and knowingly consents to the racing, or (iii) is convicted of a violation of § 46.2-865.1, the vehicle shall be seized and disposed of in the manner provided in §§ 4.1-339 through 4.1-348 for seizure and forfeiture of conveyances or vehicles used in the illegal transportation of alcoholic beverages. Such sections shall apply mutatis mutandis.
The penalties imposed by these sections are in addition to any other penalty imposed by law.