NHRA ANNOUNCES LIMIT ON PROFESSIONAL TEAM OWNERSHIP IN NHRA POWERADE DRAG RACING SERIES Team Ownership Limited to Four Teams in Each Professional Category GLENDORA, Calif. (Aug. 24, 2006) -- NHRA announced a limit on the number of cars...
NHRA ANNOUNCES LIMIT ON PROFESSIONAL TEAM OWNERSHIP IN NHRA POWERADE DRAG RACING SERIES
Team Ownership Limited to Four Teams in Each Professional Category
GLENDORA, Calif. (Aug. 24, 2006) -- NHRA announced a limit on the number of cars one owner group can field in each of the four professional categories that make up the NHRA POWERade Drag Racing Series. Effective immediately, owner groups will be limited to four teams per professional category, currently comprised of the Top Fuel, Funny Car, Pro Stock and Pro Stock Motorcycle classes.
The sport of NHRA POWERade Drag Racing is currently experiencing unprecedented investment and the world's largest motorsports sanctioning body believes that for the continued growth and popularity of the sport, a rule on the number of professional teams owned by one owner group is necessary.
"It is in the best interest of the sport to limit the number of teams owned by one owner group," said Graham Light, senior vice president of racing operations, NHRA.
The definition of an owner group is any affiliated individual or individuals who have a direct or indirect form or amount of common, joint or shared control, ownership, financing, management or revenue sharing from a competing vehicle's performance.
The new rule is designed to preserve the competition in the current 16-car field format utilized in all four professional categories, reducing potential threats to racing competition.
In addition, the rule has been created to reduce barriers for entry into the sport, opening the door for current teams, as well as new teams, to secure funding from companies who see the value of participation in NHRA and the NHRA POWERade Drag Racing Series.
Currently, under the definition of an owner group, there are no owner groups that exceed the four-team limit in 2006 in any of the four professional categories.
Headquartered in Glendora, Calif., NHRA is the primary sanctioning body for the sport of drag racing in the United States. It presents 23 national events through its NHRA POWERade Drag Racing Series. NHRA has 80,000 racers and members nationwide and 140 member tracks. NHRA-sanctioned sportsman and bracket racing series' provide competition opportunities for drivers of all levels. NHRA develops the stars of tomorrow by offering the Lucas Oil Drag Racing Series, Xplod Sport Compact Racing Series, NHRA Summit Racing Series and the Street Legal Program presented by AAA. NHRA also offers the O'Reilly Auto Parts Jr. Drag Racing League for youths ages 8 to 17.