Re: NHRA roles for bankruptcy
 

The museum is a separate tax-exempt organization.

NHRA’s tax returns are public. The returns include a balance sheet which shows no long-term debt, i.e. mortgages. The organization owns real property, pays property taxes like the rest of us.

Re: NHRA roles for bankruptcy
 

Thanks Julie! Hope the races can swing west again this year and Jared can make it back out. Meanwhile you know your old car is in very good hands. Would love to run Vegas this year myself. Bet the Irvings have a race car or three I could run LOL.

Re: NHRA roles for bankruptcy
 

I would be surprised if NHRA filed for any chapter of bankruptcy; however, several years ago there was chatter here in NC that Bruton Smith would be interested in owning the NHRA but not at what they believed it was worth then. Given the current state of the sanctioned racing entertainment business I doubt the market value has gone up.

Re: NHRA roles for bankruptcy
 

The Facebook post last night was BS. The person posted it and got his chops busted. Later he posted a correction What if NHRA had yada yada yada.
It did get a lot of attention though.

Re: NHRA roles for bankruptcy
 

Let's use some round numbers of the Covid NHRA:

***Income or income avoidance ***

40,000 licensed drivers at $150/yr. = $6,000,000 yr.

80,000 members (40,000 are lic. drivers) 40,000 x $70/yr. = $2,800,000 yr.

So far, they didn't have to do anything to get the $8.8M. My guess is the National Dragster pays for itself with the advertising, so that may be a wash.

Fees from member tracks (I have no idea what the franchise fee is)???

No $15M payout to Fox to broadcast National Events that only 400,000 people watch.

No huge payouts to TF and FC, and modest payouts to PS. The combined payouts in these classes far exceed an "spectator" income at the majority of races.




******** Expenses *********

Salaries of top brass and board of directors (see tax returns) $5,000,000
Salaries of administrative staff at national headquarters. ?
Salaries of Division Directors, division admin., tech inspectors ?

Rent, utilities, insurance, upkeep at National and Division offices ?
Rent, utilities, insurance, upkeep of tracks owned by NHRA ?

Taxes, legal fees, accounting fees,.... ?

Misc other expenses ?


No payouts in the sportsman classes (I suspect that NHRA makes $$ off the sportsman classes and takes in (entry fee plus crew passes) much more than they pay out, so this may be considered lost income.



Can anyone fill in the blanks on some of the expenses?

Re: NHRA roles for bankruptcy
 

We would love to have you come out our friend and race with
use absolutely any time you like!

There is a rumor that there will be THREE Divisionals at LVMS
AND some other surprises (Stay Tuned!).

Be Well Jim.

Re: NHRA roles for bankruptcy
 

Now THAT'S some crazy talk.

Re: NHRA roles for bankruptcy
 

Ya know, I've always said, "I'm crazy, not stupid".

Re: NHRA roles for bankruptcy
 

If the NHRA were to file for bankruptcy would you guys think that was a good or bad thing.

Re: NHRA roles for bankruptcy
 

Bankruptcy may seem like a sign of trouble, but it is only to some extent in most cases. Bankruptcy is very often a " financial maneuver" in order to regroup and move forward again. Most people even come back stronger than before with a legal regrouping of their finances. Bankruptcy judges and lawyers can make it very comfortable for their clients in most cases. In fact nowadays it carries no shame like it once did, it's considered a way of business.