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?

Well some people started getting checks and this thread died as did the daily "updates" from the motor cycle guy. What now?

"What now?" That really is the big question. Do not know of the motorcycle guy doing daily updates.

I do not know how it will end but do know this has been crazy from the start.

And now its REAL QUIET!

Hey, how are us lurkers supposed to find anything out if nobody is posting???

There isn't anybody on this thread that knows anything about what's going on regarding IHRA. All it is, is speculation, opinions and rumors. I'll wait until there is an announcement. Maybe there is another buyer out there with money to burn?

AMEN!

quote:

Originally posted by Larry Scarth:
There isn't anybody on this thread that knows anything about what's going on regarding IHRA. All it is, is speculation, opinions and rumors.

Well the title of the thread is IHRA rumors

The tracks he purchased and the IHRA are separate.

Darana Motorsports Holdings-Owned Tracks Push Forward As Independent Businesses Amid Rumors And Uncertainty

https://www.dragzine.com/featu...ors-and-uncertainty/

Stan

Time to move on, only news I would be interested in is who is going to become the sanctioning body for weekly points series bracket racing. I truly hope they bury the IHRA banners and logo for the last time and come up with something new. The name itself has been the name for false hope now for decades.

You all seem to have forgot this little detail.


https://futurism.com/future-so...2418%20million%20for

Comp Plus did a very good story on the pat outs and Edd Harney comments are interesting


Attorney Edd Harney, known throughout the sport as The Drag Race Lawyer, said he sees no easy legal avenue because there apparently was no contract between IHRA and its racers. He said legal concepts such as detrimental reliance could be considered, but proving a viable claim and ultimately collecting on it could be extremely difficult.

Harney also said he has seen nothing indicating IHRA intended to defraud its competitors.

“I’ve seen nothing that I have read or seen from IHRA’s perspective that there was any intent to defraud,” Harney said. “Kind of my view of it looks to be somebody that wanted to heavily get involved in the sport, maybe got a bit over their skis, and then when their money source dried up, they didn’t quite have the money to support the promises that they tried to make.”