The International Hot Rod Association has committed $2.75 million in prize money across three powerboat racing disciplines following its acquisition by Ohio electrical contractor Darryl Cuttell in December 2024.
Cuttell purchased the drag racing sanctioning body from chassis builder Larry Jeffers through a newly formed limited liability company, Cuttell Motorsports LLC.
The purchase price was not disclosed.
Powerboat Racing Acquisitions
The IHRA’s entry into powerboat racing began in October 2025 with the acquisition of Powerboat P1 USA and P1 Offshore for a combined prize purse of $2 million. In December, the organisation acquired F1 Powerboat Racing, a tunnel boat series, with a $500,000 purse. On Christmas Eve, IHRA launched its Pro Waterboat Racing Series with $250,000 in prize money.
The powerboat expansion represents one element of Cuttell’s rapid motorsports diversification. Since acquiring IHRA just over a year ago, he has purchased multiple drag racing facilities, Memphis Motorsports Park, Heartland Motorsports Park in Kansas, and North Carolina’s Rockingham Speedway. He also launched the IHRA Stock Car Series in November 2025.
Darana Hybrid Background
Cuttell operates Darana Hybrid, an electro-mechanical contractor based in Fairfield, Ohio, that specialises in industrial conveyor systems and electrical installations. The company, founded in 1985 in Niagara Falls, New York, employs between 274 and 400 people across the United States, Canada, and Mexico.
Darana Hybrid’s client roster includes Tesla, SpaceX, xAI, Amazon fulfilment and air hubs, UPS, FedEx, Walmart, Target, Starbucks, Coca-Cola, Pepsi, and Kraft Heinz. The company generates between $17.6 million and $43.38 million in annual revenue, according to business directory estimates.
In 2016, Darana Hybrid relocated its headquarters from Memphis, Tennessee, to Hamilton, Ohio, purchasing a 170,000-square-foot former industrial warehouse for $500,000 and investing $3.3 million in renovations. The company is certified as a Native American-owned Minority Business Enterprise, with Cuttell a member of the Tuscarora Nation.
Corporate Structure
The corporate structure behind IHRA’s operations shows Cuttell Motorsports LLC as the operating entity.
IHRA’s headquarters moved from Norwalk, Ohio, to Fairfield, following the acquisition.
IHRA Leadership
Cuttell installed Leah Martin as IHRA president, with Tommy Thomassie appointed Executive Vice President and Director of Powerboating in January 2026. The initial IHRA president, Kenny Nowling, departed shortly after the acquisition was announced.
Broadcast Partnership
IHRA announced its partnership with SPEED SPORT 1 on 3 July 2025, establishing a multi-year broadcast agreement that expanded in December to cover all IHRA racing disciplines including powerboat racing.
The partnership distributes IHRA content across SPEED SPORT 1, SPEED SPORT 2, and IHRA.TV to more than 200 million devices in North America.
Distribution platforms include Amazon Prime Video, The Roku Channel, PlutoTV, and Fubo, with all content available free to viewers both live and on-demand.
Windy City Creative Group produces IHRA broadcasts, with Steve Grein as executive producer. Grein brings more than 20 years of motorsports production experience, including work with IHRA, ADRL, Lucas Oil Productions, and five years as executive producer for MAVTV.
The broadcast team includes Ken Stout on play-by-play, former NHRA Funny Car driver Tommy Johnson Jr providing colour commentary, and veteran broadcaster Ralph Sheheen hosting select events. Pit reporters Kristen Beat and Kristin Bank handle trackside interviews and behind-the-scenes coverage.
IHRA’s inaugural 2025 season under the new partnership produced 70 million minutes viewed across platforms and 3.4 million unique streams.
Live events averaged 80,000 unique streams and one million minutes viewed per broadcast.
The December expansion covers IHRA Outlaw Nitro Series drag racing, IHRA Stock Car Series, IHRA Offshore Powerboat Racing Series, IHRA Outlaw Drag Boats, and other properties.
Events air via live broadcasts, tape-delayed productions, and prime-time programming.
Content not broadcast live on SPEED SPORT 1 streams on SPEED SPORT 2 and IHRA.TV.
Series Details
Tim Seebold serves as Managing Director of the F1 Powerboat Series, with Thomas Covington handling strategic operations. Tyler Miller and Randy Scism joined IHRA’s board to oversee powerboat racing activities.
The first IHRA powerboat event is scheduled for the Bradenton Area River Regatta on 20-21 February 2026. The F1 Powerboat Racing series targets drivers using OPC tunnel boats and similar craft, with races conducted in stadium-style settings designed for spectator access.
Pro Watercraft Racing will integrate personal watercraft events into offshore powerboat racing weekends, creating what IHRA describes as a “Supercross-style vibe on water” aimed at family audiences.
Personal Powerboating Involvement
IHRA’s expansion into powerboat racing follows Cuttell’s personal involvement in high-performance boating.
In early 2025, he purchased the Spirit of Qatar Mystic catamaran, which set the Lake of the Ozarks Shootout record of 244 mph in 2014.
The 50-foot catamaran, officially named Al Adaa’am 96, is powered by twin T-55 turbine engines producing 3,800 horsepower each.
Cuttell enlisted British throttleman Steve Curtis to prepare and run the boat, storing it at Curtis’s shop in Stuart, Florida. Curtis was the original throttleman when the boat set its 244 mph record in 2014 with then-owner Sheikh Hassan bin Jabor Al-Thani driving on the mile-long course.
The engines had fewer than 200 operating hours since their installation. On 24 August 2025, Curtis and Cuttell achieved 242 mph on the shortened three-quarter-mile course at Lake of the Ozarks Shootout.
The run shattered the previous course record of 221 mph set by the piston-powered American Ethanol in 2024. The boat was repainted in Darana Hybrid’s green and white livery.
Curtis described Cuttell as “the biggest speed-lover I’ve ever met” in interviews following the record-setting performance.
Cuttell owns six high-performance boats, including a 47-foot Fountain powerboat, a 40-foot Mystic catamaran, and a Mystic M5200 centre console.
Drag Racing Facilities
The drag racing side of IHRA’s business has expanded significantly since Cuttell’s acquisition. In March 2025, IHRA announced agreements in principle to purchase seven drag racing facilities: National Trail Raceway, Milan Dragway, Kil-Kare Raceway, Dragway 42, Empire Dragway, Maple Grove Raceway, and Piedmont Dragway.
However, three facilities subsequently disputed the claims. Maryland International Raceway, Darlington Dragway, and Galot Motorsports Park confirmed they had not been purchased by IHRA and remained independently owned.
Confirmed acquisitions include National Trail Raceway in Hebron, Ohio (now operating as Darana Raceway), Milan Dragway in Michigan (now Darana Dragway), and Piedmont Dragway in Julian, North Carolina, purchased in August 2025.
Memphis Motorsports Park
On 23 December 2025, IHRA completed its acquisition of Memphis Motorsports Park in Millington, Tennessee. The facility, which includes a drag strip, 1.77-mile road course, and 0.75-mile tri-oval, last sold for $2.06 million before IHRA’s purchase, though it had previously been listed for as much as $13.5 million.
Cuttell maintains a personal connection to Memphis, having resided there for several years and operated multiple businesses in the city, according to IHRA Division Director Staci Kettles.
IHRA announced the facility will host the IHRA Sportsman Finals on 22-24 October 2026 and the IHRA Outlaw Nitro Series Finals on 5-7 November 2026. The IHRA Stock Car Series will also compete at Memphis in November 2026.
In late 2025, IHRA acquired Heartland Motorsports Park in Topeka, Kansas, and Rockingham Speedway in North Carolina. Both facilities will undergo renovation and expand their event calendars beyond traditional drag racing.
The organisation has also announced plans for IHRA TV, a digital streaming platform designed to broadcast racing across multiple disciplines including drag racing, powerboat racing, stock car racing, and other motorsports properties.
Scale of Investment
IHRA’s aggressive expansion across multiple motorsports disciplines represents an estimated investment of between $10 million and $20 million within the first 12 months of Cuttell’s ownership, based on disclosed prize money, facility acquisitions, and operational commitments.
The organisation’s strategy focuses on cross-discipline integration, with unified sponsorship packages available across drag racing, powerboat racing, stock car racing, and other properties. IHRA emphasises immediate prize money payment at awards ceremonies and tow fund support for competitors’ travel costs.
Cuttell operates his motorsports ventures alongside his industrial contracting business, maintaining his role as CEO of Darana Hybrid while expanding IHRA’s portfolio. His master electrician’s licence and OSHA certifications demonstrate his hands-on approach to both businesses.
The rapid expansion has drawn comparisons to IHRA’s earlier periods of growth under previous owners, though the multi-discipline approach represents a departure from the organisation’s traditional focus on drag racing since its founding by Larry Carrier in 1970.
Whether Cuttell’s strategy of combining drag racing, powerboat racing, stock car racing, and facility ownership under a single organisation proves sustainable remains to be seen. The model requires significant capital investment before revenue streams from ticket sales, broadcast rights, and sponsorships mature.
IHRA Ownership History
IHRA has not disclosed attendance figures, television viewership, or sponsorship revenues since Cuttell’s acquisition. The organisation’s previous owner, Larry Jeffers, maintained IHRA as a sportsman-focused sanctioning body after purchasing it from IRG Sports + Entertainment in August 2022.
Jeffers had acquired IHRA following its ownership by Palm Beach International Raceway operators, who purchased the organisation from Feld Entertainment in 2013. Earlier owners included Clear Channel Communications and Bill Bader, who significantly expanded IHRA operations from headquarters in Norwalk, Ohio.
Cuttell’s purchase returns IHRA to an owner-operator model similar to its early decades under founder Larry Carrier, though on a significantly larger scale encompassing multiple racing disciplines and facility ownership.
John Moore’s involvement in powerboat racing began in 1981 when he competed in his first offshore powerboat race. After a career as a Financial Futures broker in the City of London, specialising in UK interest rate markets, he became actively involved in event organisation and powerboat racing journalism.
He served as Event Director for the Cowes–Torquay–Cowes races between 2010 and 2013. In 2016, he launched Powerboat Racing World, a digital platform providing global powerboat racing news and insights. The following year, he co-founded UKOPRA, helping to rejuvenate offshore racing in the United Kingdom. He sold Powerboat Racing World in late 2021 and remained actively involved with UKOPRA until 2025.
In 2025, he established Powerboat News, returning to independent journalism with a focus on neutral and comprehensive coverage of the sport.
