Thursday, May 31, 2007
O'Reilly Raceway Park sold
The Glendora, Calif.-based National Hot Rod Association has sold O'Reilly Raceway Park in Clermont, along with other assets, to an investment group led by the developer of DirectTV, according to The Indianapolis Business Journal.
NHRA sold O'Reilly, formerly known as Indianapolis Raceway Park, along with its three other tracks and its Powerade Drag Racing Series to HD Partners Acquisition Corp. of Santa Monica, Calif., for $121 million. HD Partners is led by Eddy Hartenstein, who launched DirecTV a decade ago.
The NHRA will remain the sport's not-for-profit sanctioning body and focus on its amateur drag-racing activities, IBJ reported.
It was not immediately clear how the sale of the local track might affect its operations. O'Reilly Raceway Park hosts the NHRA's biggest annual event, the Mac Tools U.S. Nationals, which will be held this year from 29 August through 3 September . ORP officials were notified of the sale yesterday afternoon.
The U.S. Nationals have been held in Indianapolis since 1961. Industry insiders say HD Partners now will determine such issues as whether the event will remain here, or if the track will expand or downsize.
Posted by Indianapolis Observer at 8:03 PM