IHRA Entertainment, LLC, a newly formed corporation held by the ownership group of Palm Beach International Raceway and Memphis International Raceway, has acquired the International Hot Rod Association (IHRA), which was majority-owned by Feld Motor Sports, a division of Feld Entertainment.
The new ownership group has already taken over management of the 43-year-old organization and is operating 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.
The ownership group is led by managing partners, Michael Dezer of Dezer Properties and Joseph Lubeck of Landmark Apartment Trust of America, Inc., Edward Kobel of DeBartolo Development, and Jason Rittenberry, President & CEO of the parent company.
In 2008, the group purchased the former Moroso Motorsports Park, and have since invested over $30 million in the redevelopment of the multi-track venue in Jupiter, Florida. In 2011, they acquired the former Memphis Motorsports Park from Dover Motorsports, Inc.
Rittenberry will serve as Chief Executive Officer of IHRA Motorsports, while Aaron Polburn will remain as President and General Manager, and Skooter Peaco will continue as Vice President of Race Operations. IHRA Motorsports will continue operations at their Norwalk, Ohio, headquarters, and maintain the management team, sponsor partners and sanctioned track partners.
The 2013 IHRA schedule previously announced will remain in place, with the Summit Racing Equipment World Finals for all IHRA categories being held at the Company's Memphis International Raceway. Several events will be added to the Nitro Jam schedule, including a return to the Company's Palm Beach International Raceway.
IHRA Motorsports currently sanctions over 100 drag racing venues in six divisions throughout the United States and Canada and has over 12,000 racer members. They promote two national series—Nitro Jam and Thunder Jam. The company also owns and publishes Drag Review Magazine, which covers the IHRA events, racers, partners and tracks.