I read the Freeman piece and I think he called it richt. There is nothing there

I keep reading people saying IHRA has been sold, but no one saying who bought it. I read the Freeman article, and it seems as though someone else did, or is/was set up to buy it. Apparently people thought Freeman was the new owner, but obviously not, given the article.

quote:

Originally posted by ferndaleflyer:
The I see it is a whole lot of speculation and no real information. Face book, YouTube, etc, but nothing from the MAN. Nothing!

I'd wager we have heard the last of any direct communications from Darryl Cuttell. At least with any connection to the IHRA. Take care. Tom Worthington

There have been a lot of rumors and it has been confirmed that Darryl Cuttell wants to sell.

This is going to be hard to do. I thought from very start he was spending tons of money on stupid stuff. He will never get any of that money back making it hard to sell IHRA.
I knew he was trying to do too much- too quickly and bit off more than he could chew. As much as I would like to see IHRA become as big and popular as NHRA it will not be done overnight and it will not be done by bad management. They will always cater to different racers needs. Embrace it and grow it. IHRA will never be Top Fuel professional racers and NHRA never has cared much about Sportsmans racers.

At this point some of the rumors have been proven true so I think he should come out with a public statement saying what his plans are now on how to deal with it and move forward. Will he come out with a statement? Who knows, this guy has done some crazy stuff.

cURLY, Would you consider him an eccentric billionair/

quote:

Originally posted by Floyd Staggs:
cURLY, Would you consider him an eccentric billionair/

I do not know what to think about him. Nobody I know that is rich got that way by blowing money. There were red flags from the start with this guy but I hoped it would work out.

My home track was Atlanta Dragway, which as we know the NHRA closed and sold to a developer in 2021. Supposedly IHRA had purchased the track and would revive it. I drove by there a few weeks ago, and it hasn't been touched in 5 years with the exception of demolishing the tower and bleachers. No one is even cutting the grass. I never believed it was coming back, and looks like I was correct.

I'm also hearing that the Rockingham oval track's future with NASCAR is now in jeopardy. Sad all the way around.

I also agree 100% with comments above that rich folks don't get to be rich by recklessly spending money. None of this ever smelled right, right from the start.

Fiurst I think his intenet was make some moany and make it IHRA great place to race, I do think he attackerd and too hard and was planning on incoming money being so big not issue, Once contracts cncelled fot data center stuff he realized **** I spent how much. Lat two thing I heard is he owes 175 mill. Also seems he blwn off deal with Freeman for 500 mill for all. So Not broke just saw he f-ed up and dump and run. If that is so he is HUGE pos IMO.

Freeman buying might have been best thing possible or maybe not. At least would have chance to survive.

Slow day so I rodce over to Peidmnont to see in person. Lot of cussing on ride back, Not as bad as had expected but as contractor I can see lot needed to gegt race ready, hard to bite that bullet knowing time and nmoney needed to get ready to start trying to recover some of mnoney. Not like race tracks are sure fire money makers to start with.

Also saw videon of guy doagnosing if wholoe deal was to get track fo AI ****. Almost all bpought are pout of way and hard sale to get to, But with nmponmey in that stuff anything possible. Peidmont is damn sure out of way and there is mostly empty Industrial park at highway exot that take s in back way to track.

Fuster Cluck is words looking for.

Piedmont and at least one other track are going full blast. Piedmont is doing other things like that drift crap and other things that draw spectators. I am still in the wait and see mode,not the latest rumor mode.

With what little I know about the deal no way I would pay 500 million for the IHRA and I bet Darryl did not pay 5 million or so when he bought it. Then he goes and "buys" all these tracks and makes all these huge promises. Does not look like a lot of money is made from IHRA and value is simply not worth much.

So they "Bought" a bunch of tracks and that is part of why purchase price is so expensive? Many of the tracks he "bought" were shut down for one reason or another and needed tons of work and money poured into them to get them back up and running.

If you "bought" a track for 5 million and it will take 15 million to build towers and get it back running with no guarantee you can get it running again is it an Asset or Liability? And you still have to deal with problem that shut it down originally. Was it not making money? Not enough Spectators and Racers? Was it shut down by lawsuits for noise?

I have heard he did not pay cash for the tracks only made some payment arraignments and if he does not make payments then it is forfeited.
Sounds to me more like RENTING and it already appears he can not make payments. If you are Renting are you going to spend 15 million dollars to get the track rebuilt and going again? No. Even if you do purchase track for 5 million and spend 15 million to get it going again is that track now worth 20 million? No. If you did spend the 20 million how long would it take to recover that money? Does not look good.

So none of what I have seen from the start has made any financial sense and rich people do not get rich by throwing money away. This guy was acting like the fool who won the lottery and is broke in a year trying to impress everyone or the guy who goes into a topless bar and throws away his whole pay check to go home alone and hungry until next paycheck. Stupid.
Most of us work for our paycheck, rich people have their money work for them making more money.

A couple million dollars here and a few million there and pretty soon it starts to add up to real money.

It appears to me he took IHRA which was not doing all that great to begin with and has been able to create a HUGE MONEY PIT and wants to sell it at a profit. That will never happen. Now what happens to IHRA? It was struggling before and while I had high hopes for it and wanted it to succeed it looks like it is now worse off than ever.

And something else I find strange, he spent all this money to make it so good and then he does not even come out with a statement of any kind?
I would think he would come out with a statement saying he tried and put money into it but at this time it is not working and trying to decide best way forward from here. Instead he is hiding and letting the rumors speak for him.

Let's join the real world and stop wishing for the rich guy to buy things. Bracket racing if it wants or needs a sanctioning body needs one that starts from scratch and focuses on bracket racing. Step one is the burning of the IHRA logo, it's done and carries a curse or something with it. That should be the real concern with bracket racers and tracks. I saw I-57, Etheridge and some other tracks are trying to put something regional together which is step in the right direction.

At least one racer posted the IHRA check he was owed yesterday......