Thursday, May 31, 2007
HD Partners Acquisition Corporation announces proposed acquisition of Professional racing from the NHRA
HD Partners Acquisition Corporation and the National Hot Rod Association, the world’s preeminent drag racing organization, announced Wednesday 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.
Labels: National Hot Rod Association, NHRA, NHRA Sold
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