The International Hot Rod Association, one of drag racing’s premier sanctioning bodies for some 43 years, has been sold, it was announced today via a press release issued by the new ownership group. IHRA Entertainment LLC, a newly formed corporation held by the ownership group of the Palm Beach International Raceway and Memphis International Raceway, announced that they have acquired the IHRA and will immediately take over management of the organization. The IHRA was previously majority-owned and operated by Feld Motor Sports, a division of Feld Entertainment Inc.

The new owners will assume all assets of the IHRA, including the sanctioning body itself, 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 and CEO of of the parent company. The group purchased the former Moros Motorsports Park in 2008 and spent $30 million revitalizing the facility. In 2011, they also acquired the Memphis International Raceway. Rittenberry will serve as CEO of the IHRA, while Aaron Polburn and Scooter Peaco will remain in their longstanding positions as President and General Manager and Vice President of Race Operations, respectively.

“Today is a landmark day for our Company, the ownership group and the IHRA,” said Jason Rittenberry, CEO of IHRA Entertainment. “IHRA has shown that their entertainment business model is viable and the company can grow. We want to build on the foundation that IHRA has built over the past 40 years and provide the structure and resources it needs to be successful long term in this new motorsports environment.”
 
“This is a very exciting time for IHRA. We now have a team whose total focus is on IHRA, Nitro Jam® and Thunder Jam®,” said Aaron Polburn, President & General Manager of IHRA Motorsports. “These are incredibly successful guys who will bring a unique vision along with the resources to grow all facets of our business. They are also “car guys” who have a passion for all forms of motorsports.  That is a combination that will serve us well in the coming years. This is a great time to be an IHRA fan, racer, sponsor or member track.”
 
“Our business has evolved to focus more on other Feld Motor Sports productions like Monster Jam® and Nuclear Cowboyz®, so we are pleased that IHRA’s new owners will be able to expand its offerings and maintain the high event quality for which the brand is known,” saidCharlie Mancuso, President of Feld Motor Sports.
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®, a monthly full color magazine covering the IHRA events, racers, partners and tracks.