Jim, Dennis, Jims86,
The 100 million goes to the NHRA and will be used to fund the organization in its ongoing role in running amateur and sportsman racing indefinitely.
One factor that many peope do not clearly understand is the fact no one person or persons and/or or no group owns NHRA; never have and never will! (unlike the new NHRA Pro Racing company)
The NHRA will continue to be a 501C non profit corporation.
As examples, the NRA (National Rifle Association), the AARP, The Christian Coalition and other such types of organizations are all 501C corporations. No one owns them and nobody has a right to their funds. However, all of these organizations need money to operate and sustain life, and do hold substantial funds to keep such organizations solvent. Contrary to what many think, it takes milliions to fund the entire sportsman side of the NHRA. When you look at the overhead expense it takes to fund all the departments such as licensing, membership, field marketing, tehcnical services, field services, I.T., youth and education programs, seven division offices, member track programs, travel and hundreds of employees, the overhead expense is stagering.
Not unlike any other non profit organization, the 100 million will help fund the NHRA on indefinitly and keep Wally's dream alive. NHRA Sportsman Racing is here to stay and to continue to grow well into the future.
Len Imbrogno
NHRA Director of Sportsman Racing
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Len Imbrogno
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