The corporation announced that it had not received the required number of votes to finalise the transaction, which would have allowed it to acquire all of NHRA’s professional racing assets, including the NHRA POWERade Drag Racing series and a broad set of rights to commercialise the NHRA brand.
Eddy Hartenstein, chairman and chief executive officer of HD Partners, said: “We are very disappointed with today’s vote, given our collective enthusiasm for NHRA and the NHRA POWERade Drag Racing Series. Unfortunately, in the time since we first announced this transaction in May of 2007, we have witnessed a dramatic shift in both the financial markets and the perceived strength of the U.S. economy, which we believe adversely impacted the final outcome of this transaction."
The NHRA will continue to operate as it has in the past and has no current plans to pursue a similar opportunity in the near future.
