Twelve historic U.S. racetracks are headed to auction following the collapse of the International Hot Rod Association (IHRA), raising fears that the iconic racing venues could disappear forever.
Since being acquired by businessman Darryl Cuttell in late 2024, the IHRA has been on a buying spree. In March 2025, the IHRA announced the purchase of seven premier drag racing facilities including National Trail Raceway, Milan Dragway, Kil-Kare Raceway, Dragway 42, Darlington Dragway, GALOT Motorsports Park, and Maryland International Raceway. (Though actual possession of Maryland International Raceway was heavily disputed following the announcement.)
Then, in October 2025, the IHRA announced it had purchased Powerboat P1 USA / P1 Offshore. In November, the organization announced it had acquired the World Drag Racing Alliance, one of its main competitors, and formed a new stock car racing series.
Still not done, between late 2025 and the middle of 2026, the International Hot Rod Association announced it had acquired Piedmont Dragway, Empire Dragway, Rockingham Speedway and Dragway, Maple Grove Raceway, Heartland Park Topeka, Memphis International Raceway, Virginia Motorsports Park, and Atlanta Dragway.
In July 2026, the wheels figuratively came off the IHRA
Shortly after announcing those final track acquisitions in July 2026, the International Hot Rod Association announced the cancellation of the year’s remaining Nitro Drag Racing Series events and the implementation of widespread layoffs.
According a new report by The Drive, IHRA’s owner Darryl Cuttell alleges that Elon Musk’s SpaceXAI has neglected to pay his business, Darana Hybrid, almost $600 million that he says it owes. Darana Hybrid has reportedly assisted in the construction of Musk’s AI data centers, while SpaceXAI has accused Cuttell of overcharging in order to finance track purchases and renovations.
So, while that financial battle takes place, the International Hot Rod Association is now selling off 12 of the tracks it owns, including several that it literally just purchased.
The tracks that are now up for sale include Darana Motorsports Park in Milan, Michigan; Darana Motorsports Park in Benson, North Carolina; Darana Raceway in Hebron, Ohio; Darana Raceway in Xenia, Ohio; Darana Dragway; Rockingham Speedway and Dragway; Piedmont Dragway; Memphis International Raceway; Virginia Motorsports Park; and Atlanta Dragway.
What has racing fans so concerned is that now these historic tracks, many of which the IHRA just bought, could be purchased, bulldozed, and turned into… whatever. Just so the organization can pay the monumental bills it has accumulated.
As the listing for Memphis International Raceway clearly states, it consists of 342+ acres that are “prime for development.”