Re: IHRA News,Rumors, Speculation
The International Hot Rod Association (IHRA) (the “Company”) (www.IHRA.com) announced that the IRG Sports + Entertainment™ (IRGSE) Board of Directors (the “Board”) of the Company has appointed Mr. Skooter Peaco, as Interim President of the Company effective immediately.
Mr. Peaco replaces Mr. Scott Gardner who resigned as President of the Company, effective as of the same date in order to pursue other interests. Mr. Peaco possesses a deep knowledge of the Company’s business and he assumes his responsibilities as Interim President with the full support of the Board. Since 2003, Mr. Peaco has served as the Director of Racing Operations and most recently as the Vice President of Racing Operations at the IHRA. The Board also wishes Mr. Gardner well in his future endeavors and thanks him for his service over the past two years. The Company also announced that a Search Committee within the Board of Directors has been created, which will oversee the process for the identification and selection of a permanent President. The Committee has been charged with selecting an experienced individual to take over as the permanent President, improve the performance of the Company and drive long-term growth for the Company upon a newly formed platform that will be announced in the fourth quarter of 2016. Additionally, the IHRA announced the revision to the 2016 National Schedule by reducing two national events; the current Baton Rouge, Louisiana event on March 18-19 and Cordova, Illinois June 2-4. These are the only schedule changes to the 2016 National Schedule. |
Re: IHRA News,Rumors, Speculation
http://www.yellowbullet.com/forum/sh...0&postcount=43
Copy and Paste "Saw this on FB today. Joe Gambino to Dragway 42 1 hr · A letter concerning IHRA I was part of a conference call today discussing the future of IHRA. The rumors and speculators have the IHRA done and gone which couldnt be any farther from the truth. As one of only 6 tracks invited out of 106 tracks to participate in this call here's what I found out. The IHRA has been purchased by a equity firm that is the fourth largest in the world. No money worries here. The new CEO is a major player and has a plan in place to take the IHRA to heights it's never been before. The IHRA recognizes and embraces Sportsman Racers and knows they are the lifeblood of IHRA, they will not be forgotten and in fact will be the focus of TV coverage and sponsor money. The IHRA has reviewed all there National Event tracks and the profitability of each and have decided to drop a couple of events due to losing money. The direction that the IHRA is taking is super exciting and there are so many more things they have planned for us the racers it's incredible. The purpose of this post is the IHRA is not closing the door's just being smart business men. They are moving the Norwalk office to Palm Beach, the home of the equity firm so all will be in house. I will post more news when I am allowed by the IHRA and lastly Dragway 42 will have a National Event this year as per the new CEO. Interm president is Scooter Peaco Keep the faith! " |
Re: IHRA News,Rumors, Speculation
They could not have made a worse choice than Scooter Peaco. Might as well have chosen Kim Jong Un
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Re: IHRA News,Rumors, Speculation
OMG , the fourth largest private equity firm in the world has bought IHRA. What total BS. The fourth largest private equity fund in the world is probably at least 50 billion dollars. They didn't buy IHRA.
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Re: IHRA News,Rumors, Speculation
10 largest private equity firms globally (as of May 2014)
Rank---Fund manager---------------------HQ-----------5yr fundraising total ($m)---2013 rank--- Movement 1------The Carlyle Group--------------Washington DC-------$30,650.33----------------2------------ --Up 2------Kohlberg Kravis Roberts--------New York-------------$27,182.33---------------- 4--------------Up 3------The Blackstone Group-----------New York-------------$24,639.84---------------- 3----------- Same 4------Apollo Global Management-----New York------------ $22,298.02----------------8*-------------Up 5-----TPG-----------------------------------Texas------------------ $18,782.59-----------------1----------- Down 6-----CVC Capital Partners-------------London----------------$16,600.00-----------------10------------ Up 7-----General Atlantic-------------------Connecticut------------$16,600.00-----------------12------------ Up 8-----Ares Management-----------------Los Angeles----------$14,113.58-----------------18------------ Up 9-----Clayton Dubilier & Rice------------New York-------------$13,505.00-----------------33------------Up 10----Advent International----------------Boston----------------$13,228.09------------------7------------Down Source: Private Equity International Cut and Pasted from Wikipedia: IHRA was purchased by Palm Beach International Raceway owners in 2013 and was renamed IHRA Motorsports. PBIR also owns and operates Memphis International Raceway. Those companies were integrated into IRG Sports + Entertainment also in 2013. https://en.wikipedia.org/wiki/Intern...od_Association It has been reported in other places that "TPG" purchased the IHRA last summer. I can not confirm this. |
Re: IHRA News,Rumors, Speculation
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"Get in. Sit Down, Hold on and Shut Up"..............JMO |
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Re: IHRA News,Rumors, Speculation
The fact that TPG went from largest private equity firm to fifth largest in one year (per the chart posted above) is a good indicator that they've gotten into drag racing!
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Bring in the clowns ! |
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