NHRA sold! - Page 4

Adger Smith · 05-31-2007, 02:50 PM

cut from another post I made:
As far as available profit, I am of the opinion sportsman racing is & could be very valuable. Sprotsmen racing series, when combined with all the profit sources that weren't sold , could be very profitable.
There is more to this racing business than is shown on "Face Value"
If there was no value to it I would think Wally & the Boys would have sold it ALL as a package deal. It is my opinion they know they have a product that they can profit from, either by sale or working the product.

We will probably see a Sportsman series where we earn the rights to participate at these Pro events as filler. What a nice carrot to dangle in front of a bunch of racers that "Want to attend National Events"
What a great way to control participation at National Events & that adds another profit avenue that the sportsman has to pay for....

Adger Smith

Sean Ward · 05-31-2007, 03:19 PM

this is the way it is nhra is a non profit org correct well therefor a nonprofit can not make money the pros are what made them the money so they had to sell now us sportsman guys will more than likly get screwd in the end but nhra will be sorry if they do because i see ihra growing by leaps and bounds over the next few years[:-smilearound-:][:-confused2-:]

sean ward
stk# 2882

Tom P · 05-31-2007, 03:51 PM

It seems like a weird deal to split the NHRA national events off from the rest of it. IF they have sportsman classes at their Powerade events will all the current rules apply like the grade points and AHFS ?
Where does that leave the LODRS and the ones that race the little Oriental cars in the Sport Compact series? The new management would have no incentive to promote ties to these series at the national events.

10 Seconds Flat · 05-31-2007, 04:31 PM

The big show will be cut down to two days. Saturday will be qualifying and Sunday will be the finals. They will expand the ranks of the Pro's adding Pro Mod and using some imiganiation coming up with additional new classes.

Michael Beard · 05-31-2007, 05:13 PM

Why cut the big show down to two days when they can put spectators in the seats for three days? It's all about the money.

In my opinion, they could use some re-branding and marketing efforts to make Alky classes the big draw that they should be for LODRS events in smaller markets. Some smart track ops have learned that they *can* draw spectators if they try.

Michael Beard
Staging Light Graphic Design & Printing
Duck Tape/Loctite Racing
H - I - J/CM '80 Volare 360 Magnum

tim worner · 05-31-2007, 05:43 PM

I, for one, am all for separation from the pros,if it happens. More time to showcase the sortsman. Maybe get corporate america involved with our show. TV time is the key for bigger payouts and more prime time racing. I would hope Wally is not forgeting where this all started from and will do his best to preserve sportsman racing. The sportman show is a good show not long ago a trip to the dragstrip was a weekly occurance for alot of people and I don't mean racers. Handicap racing is not hard for the average person to understand if explained too. This could lead to the resurgence of the local track having big weekly shows.
Alot of people on this web site have been grumbling about how we are being treated and we need change, well here it is I hope it's for the best and I will think positive untill proven otherwise. I, like alot of other racers, have invested a mountain of time & money and choose to do this so I will make do the best I can.

tim w

Ven302 · 05-31-2007, 06:07 PM

To view this email as a web page, please follow this link

5/30/2007
Source: HD Partners Acquisition Corporation

NHRA ASSETS SOLD

HD Partners Acquisition Corporation Announces Proposed Acquisition of NHRA Pro Racing From the National Hot Rod Association

SANTA MONICA, CA--(MARKET WIRE)--May 30, 2007 -- HD Partners Acquisition Corporation ("HD Partners") (AMEX:HDP - News) (HDPU - News) (HDPWT - News) and the National Hot Rod Association ("NHRA"), the world's preeminent drag racing organization, today announced the signing of a definitive agreement under which HD Partners will acquire all of NHRA's professional racing assets, including the NHRA POWERade Drag Racing series, together with a broad set of rights to commercialize the NHRA brand. Upon consummation of the transaction, the acquired assets will be held in a wholly owned subsidiary of HD Partners named NHRA Pro Racing. 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.

Eddy Hartenstein, Chairman and Chief Executive Officer of HD Partners, said, "We are extremely excited by this truly unique sports media and entertainment opportunity, which provides an ideal platform for our management team to leverage their skills and expertise in creating and marketing compelling entertainment experiences and building strong brands. NHRA President Tom Compton and his team have done a remarkable job positioning the NHRA POWERade Drag Racing series as one of the country's top motorsports events. We see tremendous opportunities in working closely with Tom, who will become President and CEO of NHRA Drag Racing, to take the sport of drag racing and the overall NHRA experience to the next level."

Wally Parks, Founder of the NHRA, said, "Today's announcement represents a monumental milestone in the 56-year history of the NHRA. By virtue of the agreements we have reached with HD Partners, we are positioning the NHRA POWERade Series for great future growth and success, while at the same time are assuring the long term vitality of the NHRA."

Upon closing of the transaction, Eddy Hartenstein will serve as Chairman of NHRA Pro Racing, and Tom Compton will assume the role of President and CEO and be a member of the Board. Robert Meyers, HD Partners' current Chief Financial Officer, will become the Chief Financial Officer of NHRA Pro Racing. Peter Clifford, currently Executive Vice President and General Manager of the NHRA, will become executive director of the NHRA, as well as a consultant to NHRA Pro Racing.

Dallas Gardner, Chairman of the Board of NHRA, said, "This transaction provides the best opportunity for NHRA to fulfill its core mandate to protect, preserve and promote the sport of drag racing. It provides long-term financial stability to the NHRA, an unhindered opportunity for the NHRA POWERade Drag Racing Series to flourish and grow, and an important strategic and long-term relationship between the NHRA and NHRA Pro Racing."

Tom Compton, president of the NHRA, said, "While we have made tremendous strides over the last eight years growing the professional side of the sport, today's announcement is the next logical step in the evolution of the sport of drag racing. This new relationship brings with it access to investment capital, additional expertise, relationships and complimentary skill sets to assist the current management team to drive key initiatives to accelerate the growth of the NHRA POWERade Drag Racing Series."

Under the terms of the agreement announced today, HD Partners will acquire:

-- The NHRA POWERade Drag Racing Series and all professional NHRA drag
racing assets and opportunities, including NHRA's existing television
broadcast agreement with ESPN;

-- An exclusive, worldwide, perpetual license to the NHRA brand for
professional drag racing activities;

-- Broad and extensive rights to commercialize the NHRA brand, including:

- Exclusive professional racing and "Official NHRA" sponsorship
and licensing rights;

- Exclusive media exploitation rights in broadcast television, home
entertainment and new media;

- Exclusive merchandising rights relating to both professional
racing and the stand-alone NHRA brand;

-- Four NHRA-owned race tracks, an additional long-term track lease in
Pomona, California and the NHRA headquarters building in Glendora,
California; and

-- A video and photo archive chronicling the history of drag racing,
which includes more than 20,000 hours of video and film.

The NHRA POWERade Drag Racing Series currently consists of 23 national events held at locations across the country. These multi-day events, which can draw as many as 125,000 spectators over three or more days, provide fans, racers and sponsors a unique ability to interact with each other through access to the racer pit area. In addition, NHRA's Nitro Alley display and interactive area located at each national event provides fans with a race-related entertainment experience, including the ability to get behind the wheel themselves in motorcycle and funny car simulators. All 23 national events are aired exclusively on ESPN2.

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.

HD Partners will file a Current Report on Form 8-K with the Securities and Exchange Commission, which more fully describes the transaction.

In connection with the proposed acquisition, Morgan Joseph & Co. Inc. served as financial advisor to HD Partners and Latham and Watkins LLC were HD Partners' legal advisors. Duff & Phelps, LLC provided a fairness opinion to the HD Partners board of directors.

A nationally recognized investment banking firm provided a fairness opinion to the NHRA board of directors in connection with the transaction and Morrison and Foerster were the NHRA's legal advisors.

# # #

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Venice

Ven302 · 05-31-2007, 06:09 PM

sorry for the uplication I had not noticed eds post

Venice

John Warehime · 05-31-2007, 06:17 PM

Mr. Worner is correct. Now we race at our own events and probably get paid better for class wins. We are not supporting the pros any longer. They will stand alone. We may be racing at two day events, now that we don't need to wait for all that carnaval crapp.

tgriffith · 05-31-2007, 06:30 PM

just speculation but....... what of Nhra was on the verge of not being a non profit organization any longer and had to do something to avoid paying a ton of taxes.??? What if Bruton was so angry about not getting his way about buying Nhra that he raised the issue to the IRS on how they could be such a power,,,,,membership holders have no say and still be "non Profit"......Personally,,Id like to know the same ,,,How do you own so much property,,,pay yourself a large salary,,,,live the high life ,,own alot of property and membership dont have **** to say in it and still be non profit???.........Dollar to a Doughnut says ,,,,(if it ever comes out) there was some tax related issue that caused this,,,,,,,the original mission of nhra has long been abandoned and a multi million dollar money makin machine is what it is today.........IMO,,the split will allow the powers that be,,, cash in on the multi million dollar cash cow and the donation of the 100 million will allow the sportsman side to operate for years to come under the original mission statements of safety and fair play, and not raise any Irs questions,,,only time will tell I guess!!!

05-31-2007, 02:50 PM	#31
Adger Smith VIP Member Join Date: Dec 2001 Location: Texarkana Ark/TX Posts: 2,446 Likes: 575 Liked 880 Times in 311 Posts	cut from another post I made: As far as available profit, I am of the opinion sportsman racing is & could be very valuable. Sprotsmen racing series, when combined with all the profit sources that weren't sold , could be very profitable. There is more to this racing business than is shown on "Face Value" If there was no value to it I would think Wally & the Boys would have sold it ALL as a package deal. It is my opinion they know they have a product that they can profit from, either by sale or working the product. We will probably see a Sportsman series where we earn the rights to participate at these Pro events as filler. What a nice carrot to dangle in front of a bunch of racers that "Want to attend National Events" What a great way to control participation at National Events & that adds another profit avenue that the sportsman has to pay for.... Adger Smith __________________ Adger Smith (Former SS)

05-31-2007, 03:19 PM	#32
Sean Ward Member Join Date: Apr 2006 Location: Grand Island FL. Posts: 389 Likes: 0 Liked 0 Times in 0 Posts	this is the way it is nhra is a non profit org correct well therefor a nonprofit can not make money the pros are what made them the money so they had to sell now us sportsman guys will more than likly get screwd in the end but nhra will be sorry if they do because i see ihra growing by leaps and bounds over the next few years[:-smilearound-:][:-confused2-:] sean ward stk# 2882 __________________ Sean Ward NHRA s/ss/comp#2882 SW4 MOTORSPORTS

05-31-2007, 05:13 PM	#35
Michael Beard VIP Member Join Date: Sep 2002 Location: Columbus, OH Posts: 4,060 Likes: 0 Liked 13 Times in 9 Posts	Why cut the big show down to two days when they can put spectators in the seats for three days? It's all about the money. In my opinion, they could use some re-branding and marketing efforts to make Alky classes the big draw that they should be for LODRS events in smaller markets. Some smart track ops have learned that they can draw spectators if they try. Michael Beard Staging Light Graphic Design & Printing Duck Tape/Loctite Racing H - I - J/CM '80 Volare 360 Magnum __________________ Michael Beard - NHRA/IHRA 3216 S/SS

05-31-2007, 05:43 PM	#36
tim worner Senior Member Join Date: Jan 2002 Location: duncannon Posts: 837 Likes: 14 Liked 126 Times in 20 Posts	I, for one, am all for separation from the pros,if it happens. More time to showcase the sortsman. Maybe get corporate america involved with our show. TV time is the key for bigger payouts and more prime time racing. I would hope Wally is not forgeting where this all started from and will do his best to preserve sportsman racing. The sportman show is a good show not long ago a trip to the dragstrip was a weekly occurance for alot of people and I don't mean racers. Handicap racing is not hard for the average person to understand if explained too. This could lead to the resurgence of the local track having big weekly shows. Alot of people on this web site have been grumbling about how we are being treated and we need change, well here it is I hope it's for the best and I will think positive untill proven otherwise. I, like alot of other racers, have invested a mountain of time & money and choose to do this so I will make do the best I can. tim w __________________ Tim Worner SS 1747

05-31-2007, 06:07 PM	#37
Ven302 Member Join Date: Feb 2005 Location: Stoney Creek Posts: 262 Likes: 41 Liked 34 Times in 7 Posts	To view this email as a web page, please follow this link 5/30/2007 Source: HD Partners Acquisition Corporation NHRA ASSETS SOLD HD Partners Acquisition Corporation Announces Proposed Acquisition of NHRA Pro Racing From the National Hot Rod Association SANTA MONICA, CA--(MARKET WIRE)--May 30, 2007 -- HD Partners Acquisition Corporation ("HD Partners") (AMEX:HDP - News) (HDPU - News) (HDPWT - News) and the National Hot Rod Association ("NHRA"), the world's preeminent drag racing organization, today announced the signing of a definitive agreement under which HD Partners will acquire all of NHRA's professional racing assets, including the NHRA POWERade Drag Racing series, together with a broad set of rights to commercialize the NHRA brand. Upon consummation of the transaction, the acquired assets will be held in a wholly owned subsidiary of HD Partners named NHRA Pro Racing. 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. Eddy Hartenstein, Chairman and Chief Executive Officer of HD Partners, said, "We are extremely excited by this truly unique sports media and entertainment opportunity, which provides an ideal platform for our management team to leverage their skills and expertise in creating and marketing compelling entertainment experiences and building strong brands. NHRA President Tom Compton and his team have done a remarkable job positioning the NHRA POWERade Drag Racing series as one of the country's top motorsports events. We see tremendous opportunities in working closely with Tom, who will become President and CEO of NHRA Drag Racing, to take the sport of drag racing and the overall NHRA experience to the next level." Wally Parks, Founder of the NHRA, said, "Today's announcement represents a monumental milestone in the 56-year history of the NHRA. By virtue of the agreements we have reached with HD Partners, we are positioning the NHRA POWERade Series for great future growth and success, while at the same time are assuring the long term vitality of the NHRA." Upon closing of the transaction, Eddy Hartenstein will serve as Chairman of NHRA Pro Racing, and Tom Compton will assume the role of President and CEO and be a member of the Board. Robert Meyers, HD Partners' current Chief Financial Officer, will become the Chief Financial Officer of NHRA Pro Racing. Peter Clifford, currently Executive Vice President and General Manager of the NHRA, will become executive director of the NHRA, as well as a consultant to NHRA Pro Racing. Dallas Gardner, Chairman of the Board of NHRA, said, "This transaction provides the best opportunity for NHRA to fulfill its core mandate to protect, preserve and promote the sport of drag racing. It provides long-term financial stability to the NHRA, an unhindered opportunity for the NHRA POWERade Drag Racing Series to flourish and grow, and an important strategic and long-term relationship between the NHRA and NHRA Pro Racing." Tom Compton, president of the NHRA, said, "While we have made tremendous strides over the last eight years growing the professional side of the sport, today's announcement is the next logical step in the evolution of the sport of drag racing. This new relationship brings with it access to investment capital, additional expertise, relationships and complimentary skill sets to assist the current management team to drive key initiatives to accelerate the growth of the NHRA POWERade Drag Racing Series." Under the terms of the agreement announced today, HD Partners will acquire: -- The NHRA POWERade Drag Racing Series and all professional NHRA drag racing assets and opportunities, including NHRA's existing television broadcast agreement with ESPN; -- An exclusive, worldwide, perpetual license to the NHRA brand for professional drag racing activities; -- Broad and extensive rights to commercialize the NHRA brand, including: - Exclusive professional racing and "Official NHRA" sponsorship and licensing rights; - Exclusive media exploitation rights in broadcast television, home entertainment and new media; - Exclusive merchandising rights relating to both professional racing and the stand-alone NHRA brand; -- Four NHRA-owned race tracks, an additional long-term track lease in Pomona, California and the NHRA headquarters building in Glendora, California; and -- A video and photo archive chronicling the history of drag racing, which includes more than 20,000 hours of video and film. The NHRA POWERade Drag Racing Series currently consists of 23 national events held at locations across the country. These multi-day events, which can draw as many as 125,000 spectators over three or more days, provide fans, racers and sponsors a unique ability to interact with each other through access to the racer pit area. In addition, NHRA's Nitro Alley display and interactive area located at each national event provides fans with a race-related entertainment experience, including the ability to get behind the wheel themselves in motorcycle and funny car simulators. All 23 national events are aired exclusively on ESPN2. 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. HD Partners will file a Current Report on Form 8-K with the Securities and Exchange Commission, which more fully describes the transaction. In connection with the proposed acquisition, Morgan Joseph & Co. Inc. served as financial advisor to HD Partners and Latham and Watkins LLC were HD Partners' legal advisors. Duff & Phelps, LLC provided a fairness opinion to the HD Partners board of directors. A nationally recognized investment banking firm provided a fairness opinion to the NHRA board of directors in connection with the transaction and Morrison and Foerster were the NHRA's legal advisors. # # # Terms under which this service is provided to you: sema.org/disclaimer SEMA's mailing address: 1575 S. Valley Vista Dr., Diamond Bar, CA 91765 Copyright 2007. Specialty Equipment Market Association (SEMA) This message was intended for: theperformancecellar@bellnet.ca You were added to the system March 14, 2007. For more information click here. Update your preferences \| Unsubscribe Venice __________________ VENICE PERNO SS/CS 3041 NHRA SUPERSTOCK

05-31-2007, 03:51 PM	#33
Tom P Senior Member Join Date: Mar 2002 Posts: 707 Likes: 30 Liked 239 Times in 94 Posts	It seems like a weird deal to split the NHRA national events off from the rest of it. IF they have sportsman classes at their Powerade events will all the current rules apply like the grade points and AHFS ? Where does that leave the LODRS and the ones that race the little Oriental cars in the Sport Compact series? The new management would have no incentive to promote ties to these series at the national events.

05-31-2007, 04:31 PM	#34
10 Seconds Flat Junior Member Join Date: Jul 2002 Posts: 9 Likes: 0 Liked 0 Times in 0 Posts	The big show will be cut down to two days. Saturday will be qualifying and Sunday will be the finals. They will expand the ranks of the Pro's adding Pro Mod and using some imiganiation coming up with additional new classes.

05-31-2007, 06:09 PM	#38
Ven302 Member Join Date: Feb 2005 Location: Stoney Creek Posts: 262 Likes: 41 Liked 34 Times in 7 Posts	sorry for the uplication I had not noticed eds post Venice __________________ VENICE PERNO SS/CS 3041 NHRA SUPERSTOCK

05-31-2007, 06:17 PM	#39
John Warehime Member Join Date: Dec 2006 Posts: 291 Likes: 0 Liked 2 Times in 1 Post	Mr. Worner is correct. Now we race at our own events and probably get paid better for class wins. We are not supporting the pros any longer. They will stand alone. We may be racing at two day events, now that we don't need to wait for all that carnaval crapp.

05-31-2007, 06:30 PM	#40
tgriffith Member Join Date: May 2002 Posts: 187 Likes: 0 Liked 0 Times in 0 Posts	just speculation but....... what of Nhra was on the verge of not being a non profit organization any longer and had to do something to avoid paying a ton of taxes.??? What if Bruton was so angry about not getting his way about buying Nhra that he raised the issue to the IRS on how they could be such a power,,,,,membership holders have no say and still be "non Profit"......Personally,,Id like to know the same ,,,How do you own so much property,,,pay yourself a large salary,,,,live the high life ,,own alot of property and membership dont have **** to say in it and still be non profit???.........Dollar to a Doughnut says ,,,,(if it ever comes out) there was some tax related issue that caused this,,,,,,,the original mission of nhra has long been abandoned and a multi million dollar money makin machine is what it is today.........IMO,,the split will allow the powers that be,,, cash in on the multi million dollar cash cow and the donation of the 100 million will allow the sportsman side to operate for years to come under the original mission statements of safety and fair play, and not raise any Irs questions,,,only time will tell I guess!!!