Palm Beach International Raceway, formerly known as Moroso, has acquired the drag racing group International Hot Rod Association, which was previously majority-owned by Feld Motor Sports. PBIR’s ownership group will immediately take over management of the 43 year old organization and operate as IHRA Motorsports.
The acquisition includes 100 percent of the IHRA assets, including the sanctioning body, the Nitro Jam® series, the Thunder Jam® series, the Summit® Pro Am series, the Summit® Super Series program and Drag Review Magazine®.
“Today is a landmark day for our Company, the ownership group and the IHRA,” said Jason Rittenberry, CEO of IHRA Entertainment. “IHRA has shown that their entertainment business model is viable and the company can grow. We want to build on the foundation that IHRA has built over the past 40 years and provide the structure and resources it needs to be successful long term in this new motorsports environment.”
See the full press release after the jump.
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