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| IHRA Rumors? | Login/Join |
| DRR S/Pro |
Pretty tough to hose a trillionaire. If it’s true how stupid to over bill them. California Screaming! Raceless in California! | |||
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DRR Top Comp |
This does not change anything. Darryl Cuttrel was spending money he did not have like a Drunken sailor on leave. If he was being ripped off why did he continue to do business with Musk? Why was he writing hot checks thinking Musk is going to pay him some day? Realistically IHRA was never a good, safe investment and most people who are Rich would never dump that kind of money into it. They would only put into it what they could afford to lose like pocket money and walk away with out hurting them if it failed. They would put the minimum in it and try to grow it slowly and have it take care of itself. A wealthy person never keeps throwing money at a failure. They cut their losses and move on. From the very start of this deal nothing made sense. The way he did it even if Musk would have paid him the end result would still be same as right now because they were spending more money on something that would never generate enough return on investment. So you limit what you put in and grow it at a rate it can sustain itself. So what is gross revenue of IHRA every year? Maybe 10 million? Why would anyone spend 500 million on a 10 million dollar a year deal? Even if they could DOUBLE the gross revenue to 20 million a year how long would it take to recover 500 million dollar investment and with interest and everything else it was a losing proposition from the start. And if they were able to bring in 20 million a year that is not profit, there is overhead, salaries and more making it even longer to recover investment. I believe there was never any intent for IHRA to defraud anyone. I believe Darryl Cuttel had good intentions. Still you do not spend money you do not have or make promises you can not keep. I believe he had big dreams and bad business decisions. Those decisions may end up hurting all of us. Time will tell if or how well it will survive. https://postimg.cc/gallery/np3zpruo/ "Dunning-Kruger Effect" -a type of Cognitive bias where people with little expertise or ability assume they have superior expertise or ability. This overestimation occurs as a result of the fact that they do not have enough knowledge to know they don't have enough knowledge. Before you argue with someone ask yourself, "Is this person mentally mature enough to grasp the concept of a different perspective?" If not there is no point to argue. 4X NE2 CHAMPION. 2020 TDRA NE2 Champion | |||
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| DRR Trophy |
First it would be nice to know just how much Darryl Cuttel spent to purchase just the IHRA. Second how much did he spent to buy drag strips which were separate purchases / company's. Third how much did he spent purchasing other racing organizations. Forth and maybe must important. Is how close does the total of these purchases come to the often quoted 500 million dollars spent? Stan | |||
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DRR Pro |
I'm not a lawyer, but if you paid an entry fee in exchange for the right to race for a specified purse, and you didn't get paid, your entry fee is absolutely "consideration" and there was most assuredly an implied contract. Mike | |||
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| DRR Sportsman |
Only my opinion because I have no idea. But since Cutrell has absolutely no interest in drag racing did he aquire these properties because of AI? Think about it, since there are no noise restrictions ie; it's a dragstrip! That issue was taken care of when said dragstrip was issued a conditional use permit. Also lots of land to put in a lake for cooling water and already electricity is in. Just a thought. Elon is very interested in AI! So opinions? When everything is coming your way, your probably in the wrong lane. | |||
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| DRR Elite |
Why do you say he had no interest? He bought a pro stock from Larry Jeffers. He has raced powerboats for a while. And he put a lot of money and effort into putting on great shows and events Foxtrot Juliet Bravo | |||
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| DRR Sportsman |
Just my opinion. When everything is coming your way, your probably in the wrong lane. | |||
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| DRR S/Pro |
Yes it does make sense but The "Land Grab" Theory: Because Cuttell bought several spacious tracks near major interstates with high power access (such as Maple Grove and National Trail Raceway), internet rumors and conspiracy theories circulated that he was secretly acquiring the land to convert into data centers. However, court records show the acquisitions were part of Cuttell's own unsustainable, high-spending IHRA racing venture, which has now collapsed into financial ruin and left racers unpaid. California Screaming! Raceless in California! | |||
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| DRR Trophy |
maplegrove dosent have any power!the track is run on generators! | |||
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| DRR Trophy |
Barry, While he did purchase a number of drag strips, they are under separate LLCs and most are still operating as drag strips. Also my understanding is he didn't outright purchase Maple Grove. Stan | |||
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| DRR S/Pro |
Thanks Stan What a mess! California Screaming! Raceless in California! | |||
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| DRR Top Comp |
It is a mess and worse off than it was before. I really hoped he would grow it and make it bigger and better than NHRA. That would be good for all racers in my opinion. IHRA has always been mostly Eastern America and hoped it would spread more out West. Now we are just hoping it can survive..... https://postimg.cc/gallery/np3zpruo/ "Dunning-Kruger Effect" -a type of Cognitive bias where people with little expertise or ability assume they have superior expertise or ability. This overestimation occurs as a result of the fact that they do not have enough knowledge to know they don't have enough knowledge. Before you argue with someone ask yourself, "Is this person mentally mature enough to grasp the concept of a different perspective?" If not there is no point to argue. 4X NE2 CHAMPION. 2020 TDRA NE2 Champion | |||
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| DRR Top Comp |
https://www.facebook.com/reel/1527930205285359 So it appears that Darryl was doing a job for SpaceX and grossly over charged them. Then he was spending money on IHRA that was supposed to be spent building the SpaceX facility. He "Bought tracks" with money he did not have, bought like 100 brand new loaded Ford trucks, just went crazy buying everything he could get his hands on. Bottom line he was spending money he did not have in hand for things he did not need. And he was charging SpaceX for work he did not do. https://postimg.cc/gallery/np3zpruo/ "Dunning-Kruger Effect" -a type of Cognitive bias where people with little expertise or ability assume they have superior expertise or ability. This overestimation occurs as a result of the fact that they do not have enough knowledge to know they don't have enough knowledge. Before you argue with someone ask yourself, "Is this person mentally mature enough to grasp the concept of a different perspective?" If not there is no point to argue. 4X NE2 CHAMPION. 2020 TDRA NE2 Champion | |||
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