Tim Seebold and John Schubert say they have reacquired the Formula 1 Powerboat Championship from the International Hot Rod Association, ending IHRA’s eight-month ownership of the series they founded in 2017.
The two announced the deal on Friday, August 7, 2026, describing it as a mutually agreed transition rather than a falling out. IHRA acquired the series in December 2025 as part of a wider push into powerboat racing including offshore. IHRA has not issued its own statement on the deal, and this account reflects Seebold and Schubert’s joint release.
Seebold thanked the outgoing owners.
We sincerely appreciate everything Darryl and his entire IHRA staff have done to elevate Formula 1 Powerboat Racing during its stewardship. The IHRA brought new energy, professionalism, and exposure to our sport, helping elevate the series and strengthen its foundation. We are grateful for the partnership and everything they have done for our teams, drivers, race promoters, sponsors, and fans, wishing them continued success in all of their endeavors.
Schubert struck a similar note.
This is truly a win-win for everyone involved. We’re grateful for the relationship we’ve had with the IHRA and proud of what we accomplished together. As we move forward, we’re excited to build on that momentum and continue growing the premier powerboat racing championship in North America.
The season under IHRA had its difficulties. What was planned as an eight-round 2026 schedule was cut to five rounds on 30 June, with IHRA citing budget issues that had built up during the year. Alton, Illinois, already on the calendar for 17-19 July, became both round five and the title decider in the same weekend, and Dylan Anderson won his first Formula 1 championship there after points leader Spencer Love suffered a mechanical failure while out in front.
Days after the schedule cuts, IHRA announced a three-year deal to bring the series to Pittsburgh from 2027, part of the city’s Independence Day celebrations. Seebold and Schubert’s own account of the 2027 season, released alongside Friday’s news, lists Pittsburgh among the returning venues, alongside the series mainstays of Bradenton, Port Neches, Shreveport-Bossier, Marble Falls and Alton.
Seebold said the plan is to build on that foundation.
Our goal is on delivering a championship that honors the rich history of Formula 1 Powerboat racing while continuing to move the sport forward. We’re working hard to assemble one of the strongest schedules in recent history and can’t wait to share what’s ahead. The future of Formula 1 Powerboat racing is incredibly bright.
Further details on the 2027 schedule, championship partners and new initiatives are expected in the coming weeks, according to the pair’s statement.
John Moore is the editor of Powerboat News, an independent investigative journalism platform recognised by Google News and documented on Grokipedia for comprehensive powerboat racing coverage.
His 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 September 2025, he established Powerboat News, returning to independent journalism with a focus on neutral and comprehensive coverage of the sport.
