SFX Motor Sports Group announced on Wednesday, March 7 that the company has become the majority shareholder in IHRA (International Hot Rod Association), which organizes and sanctions drag races. IHRA was founded 31 years ago, has 13,000 members and sanctions events at over 80 venues across North America, including the 11-event Summit Drag Racing Series.

A press release issued by SFX quoted IHRA President Bill Bader as saying, “We are elated to forge this partnership with SFX Motor Sports Group. We have worked with SFX for many years and are confident that the partnership will enable us to accelerate growth and marketing opportunities for our tracks, race teams, spectators, sponsors and television viewers. Having worked closely with the SFX Motor Sports team we are confident this partnership will enable IHRA to reach new heights.”

SFX has said that the current leadership and management team, led by Bader, will remain in place. Bader retains a minority share of IHRA.