It's a privately held organization, and they didn't even have to release this announcement.
Chris, I thought we resolved this a while back in a previous thread on this issue. I think its important for NHRA members and participants to understand exactly how the NHRA is structured and how it is being run.
The NHRA is not a privately held organization.
Its a free standing 503(c)6 non-profit with no shares of stock and it is not allowed to have any private ownership and it has none.
It can never be sold outright, only its assets can be sold and only if that sale directly benefits the members of the organization in compliance with the original stated intention of the organization, which was to directly and only benefit its members by providing a safe environment for drag racing competition.
The NHRA, as is the intention with 503(c)6 organizations, was originally intended to ultimately be controlled by its members, who had the rights to freely elect its board members.
In the mid-80's the NHRA held a special membership vote that essentially stripped the members of these voting rights. From that point on, only the board members themselves had the rights to remove current board members and add new board members. If new board members were added, this could only have been done through a modification of the organiziation's bylaws and by a vote of the current board members.
These actions cannot be done in a vaccuum, NHRA members have a right to inspect the modified bylaws at the NHRA office.
Some, including myself, are of the opinion that the mid-80's "voting right removal" operation could successfully be legally challenged and reversed, bringing back members rights to elect and replace board members.
Also, some, including myself, feel that the NHRA is currently not in compliance with the general rules regarding how 503(c)6 "business league" organizations are to be structured and run, and that this also could be legally challenged.
I don't think a legal challenge is impossible, but it would not be an easy thing to do for several reasons. Firstly, the NHRA has done a great "snow job" of making people think that the NHRA is a private organization and they can do anything they want with it, so most members don't realize that is not the case.
It also would be an expensive legal battle, requiring someone with deep pockets willing to take it on.
But please, lets at least break through the "NHRA snow job" to make it clear to NHRA members what their actual rights and opportunities are.
If anyone is interested in more detail in how the NHRA could be legally challenged, see this tread:
http://www.nitromater.com/nhra/25271-vegas-p-r-o-meeting-8.html
There is also another thread where I thought we resolved for once and for all that the NHRA has no private ownership, I couldn't find that on a quick search but if someone wants to see it I can dig it out.