The #60 Ford Mustang driver was stung for intentionally wrecking the #54 Joe Gibbs Racing Toyota Camry on Lap 101.
NASCAR handed Preece a $50,000 USD ($69,000 AUD) fine as well as deducting 25 championship points.
The latter dropped Preece from 12th to 13th in the standings from 63 points above the cut-off line to 38 points above.
NASCAR identified radio communication before the incident as reasonable cause.
“All right, when I get to that #54, I’m done with him. F***ing idiot,” he said.
On Friday, the Ford team issued a statement.
“RFK Racing has decided to appeal the penalties by NASCAR against Ryan Preece,” a statement from the team read.
“We appreciate the opportunity to share our findings with the National Motorsports Appeals Panel at the appropriate time.
“Additionally, our organisation respectfully embraces the forum provided by NASCAR to present our case.”
The NASCAR Cup Series continues at Watkins Glen International on May 11.
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