To me the whole crazy thing is we all know buying the IHRA was a bad or risky investment from the start. So why would anyone spend tons of money they do not have to blow on it? Then he blames someone else? He spent money he did not have on something with a bad history.

My opinion from very start has been the same and not changed. I hope he is very successful and makes IHRA strong as NHRA but I also questioned how he did things and saw the Red Flags from the start.

So now the question is will IHRA even be able to stay alive?

If it even gets to court, Cuttle has no chance against Elon and his team of lawyers. My bet is it never makes it to a court room and Elon can drag it out as long as he wants too and their is nothing Cuttle can do about it

Somebody please explain to me how the IHRA is worth anywhere near $500 million.

quote:

Originally posted by SlyFox:
Somebody please explain to me how the IHRA is worth anywhere near $500 million.

Its not

Cuttel is a con man and he will get stopped.

quote:

Originally posted by SlyFox:
Somebody please explain to me how the IHRA is worth anywhere near $500 million.

I would guess it was around 5 million when he bought it, he was trying to SELL it for 500 MILLION. But supposedly he had bought a bunch of tracks and equipment. Still it is not worth 500 million as it would never get a return on that investment. Think about it when he bought it was not buying much more than a name. Very little assets, no inventory and not a huge profit on what they do.

^^^^^^^I'm not a lawyer, but all that sounds bad^^^^

quote:

Originally posted by SlyFox:
^^^^^^^I'm not a lawyer, but all that sounds bad^^^^

It is bad and IHRA has never been real stable. This may make things way worse than it was before he helped.

What we know now is this guy was "spending" hundreds of millions of dollars HE DID NOT HAVE.

Rich people do not put all their eggs in one basket. Rich people do not spend money they do not have. They do not spend more than pocket money on risky adventure like IHRA.

Now he is saying it is not his fault because he never got paid what he thought someone owed him. And he may be right there but who spends millions of dollars they do not have in hand?

To me there were Red Flags from the start, he hired Kenny Knowling to run it first. That guy has a terrible reputation for not paying racers etc. (Sure it was never his fault someone else was supposed to pay.) How many people predicted this very thing when he hired Kenny Knowling? Then hiring and firing a lot of people does not give a sense of security.

From the start none of it made sense and we all hoped it would be successful who is really surprised how it turned out?