mark, i'll give you a $1000 for your watch, but you've got 1 minute to decide. do you want my $1000 or not? you know the watch is worth at least $1200, but haven't had any offers lately,
and i'm standing in front of you with cash.......am i being an opportunist? and do you want to hold out for a better offer, or just sell at a fair price?
So, did NHRA ask for more than the near $6m per year they were getting from Coke? So far, the silence out of Glendora is deafening.
When your drowning do you really care who throws you the life preserver and rope?
Camping World came along at the perfect time to save the NHRA from their own demise. I would think they would be very very grateful!
Jm Hill
This is an email I received this morning from a trusted source:
No — but I’m guessing that Camping World has given NHRA an advance on their 2021 funding so that NHRA can pay this year’s champions. My sources report that NHRA plundered the Coca-cola championship money to pay the purses at the first three Indy races, leaving a total of only $200,000 with which to pay all four pro champions from this year.
Wow, executives making between $300,000 and almost a million dollars a year and not much money left for the year champions.
If it's true that Camping World stepped in with money just to get through this year show that really speaks volumes for the way they are doing business.
I wonder if Marcus gets a seat on the board of directors?
Jim Hill
Looking at the Form 990 for 12/31/2018, NHRA had about $5million in net cash (cash less accounts payable.) The big difference in assets is $30+ million in fixed assets-most likely the tracks NHRA owns, equipment, etc. Thus, the $49 million doesn't represent spendable money.Something doesn't seem right here. This is what they were worth at the end of 2019. It says there was $49,990,000 in assets. You can't spend that much without someone going to jail. https://www.causeiq.com/organizations/national-hot-rod-association,951686172/ Even with creative bookwork there has to be enough money to meet their obligations. Not for Profit & Non Profits are watched very closely and contrary to rumors from some the Guys in Glendora are not Gangsters. They can get in over their heads sometimes, but this is probably the best group there has been in charge of the NHRA.
........My sources report that NHRA plundered the Coca-cola championship money to pay the purses at the first three Indy races, leaving a total of only $200,000 with which to pay all four pro champions from this year.
Oh please, he ain't going anywhere.RICHARD FREEMAN: “NHRA DOESN’T UNDERSTAND WHO THEIR CUSTOMER IS” | Drag Illustrated
After a weekend that saw Richard Freeman’s Oklahoma-based Elite Motorsports team muster up a herculean effort in the midst of a pandemic-stricken race season to put two of their four full-time NHRA Pro Stock teams in title contention - one team leading the points - the business man and team...dragillustrated.com
Especially with all the money he rakes in leasing engines.
The PRO classes - T/F, F/C & Pro Stock. They are what the Mello Yello Series was and what Coke sponsored which was for 24 T/F & F/C and 19 Pro Stock races. None of the other classes. The Pro stock bikes, pro mods and sportsman racing all have sponsors and are not supported by the Series Sponsor. Coke paid NHRA 1/2 of the contract $$ for 2020 in October 2019. NHRA had Coke money to run a 1/2 season without losing any money which would have been 12 races. They will only be running 11 races this year so why did NHRA need to reduces the purses to the racers when the PRO classes were paid for.? I looked at NHRA's tax return and about 1/2 is from spectators so obviously they didn't have the income expected but to make up that loss by taking it from the PRO racers is unconscionable.
Maybe the timing is right for another association to form and offer the racers a better deal and see how many of the racers are willing to give it a try.
With people like Burton Smith who already own a number of drag strips and circle tracks that would solve part of their problem of drag strips to run on.
He also has deep pockets to fund the entire thing if he wanted to and he may also have the connections for better TV coverage.
I believe a number of years ago he was considering trying to purchase the NHRA at one point.
Just thinking out loud. Jim Hill
Burton Smith owns the following, Charlotte Motor Speedway, Atlanta Motor Speedway, Bristol Motor Speedway, Sonoma Raceway, Kentucky Speedway, Las Vegas Motor Speedway, New Hampshire Motor Speedway, and Texas Motor Speedway.
He seems to already have a number of pieces of the puzzle in place if he wanted to get involved with drag racing.
Drag Racing in my opinion needs someone who is a real promoter kind of like Humpy Wheeler was when he ran Charlottle years ago and he always put on spectacular events for everyone to enjoy.
In many ways, that is what drag racing today needs to spark more interest for the fans and it just might help get better TV coverage.
Jim Hill
Wouldn't we all.I would rather it be, Roger Penske.