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Wednesday, May 30, 2007


Well not quiet sold yet , but it looks like a deal is in the works. NHRA Pro Racing is being sold for 121 million dollars , 100 million of which is cash. NHRA will still be non profit. Kind of getting split up , something similar I guess to SCCA , and SCCA Pro racing.

The NHRA will receive approximately $121 million in total consideration, consisting of approximately $100 million in cash, approximately $9.5 million in HD Partners common stock and the assumption by HD Partners of approximately $11.5 million in debt and liabilities. In addition to retaining its non-professional racing activities and sanctioning role, the NHRA will continue to offer its membership program and publish its weekly publication National DRAGSTER. The closing of the asset purchase and related transactions is subject to stockholder approval, regulatory clearances and other customary closing conditions.

The NHRA, which will remain a non-profit 501(c)(6) corporation, will retain all its non-professional racing, safety and educational activities and continue to be the sanctioning body for all NHRA racing activities, including the NHRA POWERade Drag Racing Series.

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