NHRA is a California 501c non-profit corporation; something that was doubtlessly holding back further expansion of its more commercial operations, such as the NHRA PowerAde Series.

HD Partners Acquisition Group will take over the PowerAde series and other portions of NHRA operations. The price of the transaction is reported as $100 million, in addition to approximately $11.5 million in NHRA debt.

"I know that many of you were with us this afternoon, either in person or on the phone, and heard today’s exciting announcement about the future of the NHRA and the NHRA POWERade Drag Racing Series. For those that were unable to join us, and in the next logical step in the evolution of the sport, the NHRA announced it has signed an agreement to separate its professional series assets, including the NHRA POWERade Drag Racing Series, together with a broad set of rights to commercialize the NHRA Brand, and will transfer those assets to a new company called NHRA Pro Racing, a wholly-owned subsidiary of HD Partners Acquisition Corporation, a publicly traded company."

"As I said today, through this strategic move the NHRA POWERade Drag Racing Series now has an unhindered opportunity to flourish and grow with access to capital and a group of individuals with experience, key relationships and complimentary skill sets to build and accelerate the growth of the professional series into a major sports entertainment property."

"And, the NHRA will continue to operate as a non-profit corporation and will be in a stronger position, given the transaction provides long-term financial stability to the association, to pursue its key mandate to preserve, promote, and protect the sport of drag racing. The NHRA will continue to focus on amateur and sportsman drag racing, offer its membership program, publish its weekly publication National Dragster, and continue its youth and education programs. Importantly, the NHRA will continue to sanction and perform racing operations for all NHRA racing activities, including the NHRA POWERade Drag Racing Series."

In possibly unrelated action, Funny Car points leader Ron Capps failed to qualify for the NHRA Summer Nationals in Topeka, KS., ending the longest active qualifying streak in the class at 55 races.