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 subsection B of § 46.2-865; (ii) is present in the vehicle that is being operated by another in violation of subsection B 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 shall be forfeited to the Commonwealth, and upon being condemned as forfeited in proceedings under Chapter 22.1 (§ 19.2-386.1 et seq.) of Title 19.2, the proceeds of sale shall be disposed of according to law. Such sections shall apply mutatis mutandis. The penalties imposed by these sections are in addition to any other penalty imposed by law.