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Autoweek posts interesting Stewart rumor (1 Viewer)

Not saying it won't happen but isn't that the same guy that said Pomona was being taken out back to be slaughtered?
 
Back around 2004-5, NHRA was 'supposedly' shopping around the pro's or sportsmen series (can't recall which)...a bit later there was a significant rumor that Bruton Smith was interested in buying NHRA or one of the previously mentioned series.
Personally, I would love to see this happen. Speedway Motorsports is in the business and both guys have deep rooted passion for the betterment of auto racing.
 
Pete said:
Back around 2004-5, NHRA was 'supposedly' shopping around the pro's or sportsmen series (can't recall which)...a bit later there was a significant rumor that Bruton Smith was interested in buying NHRA or one of the previously mentioned series.
Personally, I would love to see this happen. Speedway Motorsports is in the business and both guys have deep rooted passion for the betterment of auto racing.
Click to expand...
I believe NHRA pro series was pretty much sold before the 2008 downturn and buyer backed out
 
Being that NHRA is a "Not-for-Profit" organization, how can it be "sold." I believe the board of directors can be voted out by the members, but it cannot be sold.
 
Here is what it says for those who cannot access the article.

NHRA-logo.jpg
HD Partners Acquisition Corp. has entered into an agreement to purchase the NHRA's pro racing assets, including the Powerade Drag Racing series, as well as the property's marketing and media rights, including its ESPN deal, for $121M in total consideration -- $100M in cash, approximately $9.5M in HD Partners common stock and $11.5M in debt and liabilities. The NHRA will retain its non-pro racing activities and sanctioning role. The group will also receive four NHRA-owned tracks, a long-term lease in Pomona, California, and the NHRA’s HQs in Glendora, California. HD Partners Chair & CEO Eddy Hartenstein, formerly DirecTV Vice Chair, will serve as NHRA Pro Racing Chair. NHRA President Tom Compton will serve as President & CEO (NHRA). In L.A., Jim Peltz writes the sale should allow the NHRA to “reach a wider audience through expansion and added media exposure.” Compton: “It’s a shot in the arm for the Powerade series.” Hartenstein said that once that series “leaves its nonprofit status and becomes part of his firm ... ‘we can literally take off the gloves on marketing and awareness.’” That could include “additional national events that hit parts of the country that are underserved.” Peltz notes SMI Chair & CEO Bruton Smith “previously had said he wanted to buy the NHRA, but the NHRA had insisted it wasn’t for sale” (L.A. TIMES, 5/31).
 
glofria said:
Being that NHRA is a "Not-for-Profit" organization, how can it be "sold." I believe the board of directors can be voted out by the members, but it cannot be sold.
Click to expand...
It would also be highly unlikely that it could be moved to another state and keep the "Not for Profit" status as it is. Without the so called Dues paying Organization Members a regular Corporation whould have to live from race to race on Ticket Money - Entry Fees - and those huge checks they get from the TV ;). Face it - NHRA is not a cash Cow.
 
at the 3:30 mark dale jr. talks about tony's nhra debut. as a predominantly nascar themed show, i thought dale spoke carefully and well about
tony's new chapter in racing.........and he eluded to having been at an nhra nat. event and spoke about the fan access nhra provides.
........anyone remember dale jr. attending a race recently? ....... IMO, fan access aside, i think the big sell for nhra going forward is it's ability
to provide up close hospitality to clients and sponsors multiple days ...... i don't know if 'not for profit' is the best way to run the series?
diversity is a big word in sports entertainment these days, and the nhra has been a role model for many years without even trying.
IMO the potential upside of nhra is being noticed more recently.
 
mick said:
at the 3:30 mark dale jr. talks about tony's nhra debut. as a predominantly nascar themed show, i thought dale spoke carefully and well about
tony's new chapter in racing.........and he eluded to having been at an nhra nat. event and spoke about the fan access nhra provides.
........anyone remember dale jr. attending a race recently? ....... IMO, fan access aside, i think the big sell for nhra going forward is it's ability
to provide up close hospitality to clients and sponsors multiple days ...... i don't know if 'not for profit' is the best way to run the series?
diversity is a big word in sports entertainment these days, and the nhra has been a role model for many years without even trying.
IMO the potential upside of nhra is being noticed more recently.
Click to expand...
Force hosted him at Charlotte a few years back
 
Ramjet said:
It would also be highly unlikely that it could be moved to another state and keep the "Not for Profit" status as it is. Without the so called Dues paying Organization Members a regular Corporation whould have to live from race to race on Ticket Money - Entry Fees - and those huge checks they get from the TV ;). Face it - NHRA is not a cash Cow.
Click to expand...

I guess all they could do was buy/sell was assets....does anyone know what happens to the funds when a 501C(3) corp is sold? My guess is that any debts are paid and the $ is split across the board/shareholders?
 
Pete, the second half of your analysis is wrong. The board members can get the regular salaries and even vote to raise their salaries (subject to personal income taxes), but any assets left over will have to be donated to another non=profit organization.
 
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