FAIRFIELD, Ohio — October 17, 2025 — The International Hot Rod Association (IHRA) has acquired Powerboat P1 USA / P1 Offshore, a move that signals another major step forward in the evolution of professional powerboat racing. The acquisition brings together two prominent motorsport organizations under one banner and lays the foundation for a unified and expanded 2026 racing season. IHRA Powerboat Racing Series also confirmed that discussions with Race World Offshore (RWO) remain ongoing regarding future alignment.
“This acquisition represents a new era of leadership and vision for IHRA,” said Darryl Cuttell, Owner & CEO of the International Hot Rod Association. “We are committed to elevating the sport of powerboat racing through innovation, unity, and global reach. Together, we will build an organization that champions excellence, expands opportunity, and inspires the next generation of racers and fans.”
“IHRA’s leadership brings new energy and scale to powerboat racing,” said Azam Rangoonwala, Chief Executive Officer of Powerboat P1 USA / P1 Offshore. “Their commitment to professionalism and growth ensures that the sport will continue to thrive and connect with audiences around the world.”
“The 2026 season will showcase the best of both organizations,” added Thomas Covington, who will oversee strategic sponsorship and operations. “Our combined expertise and shared vision will strengthen the sport, our teams, and our partners.”
“This is more than an acquisition—it’s an evolution,” said Leah Martin, IHRA Powerboating Executive. “The collaboration between IHRA and Powerboat P1 USA / P1 Offshore represents progress, passion, and a shared belief in what this sport can become.”
Larry Bleil, Owner of Race World Offshore, expressed support for IHRA’s new direction, emphasizing that ongoing discussions remain productive.
“We are in agreement with the direction IHRA is taking and appreciate their vision for the future of the sport,” said Bleil. “Our conversations have been positive, and we look forward to continuing discussions aimed at ensuring the best possible outcome for racers and fans alike.”
As part of its continued investment in organizational and competitive growth, IHRA recently expanded its Board of Directors with the addition of Tyler Miller and Randy Scism. Miller, a veteran team owner and longtime champion racer and supporter of offshore racing, and Scism, founder of Marine Technology Inc. (MTI) and one of the sport’s most respected builders and champions, bring decades of leadership and expertise to the board.
Their appointments underscore IHRA’s commitment to advancing the sport through collaboration, innovation, and racer-focused development. This comes shortly after the IHRA announcing an unprecedented prize purse amount of $250,000 to be awarded to the different classes of offshore racing at the RWO Key West Offshore World Championship, as well as a staggering $1 million dollar prize purse over the course of the 2026 season. Cuttell also acquired the Southern Drag Boat Association in early September and announced a prize purse of $340,000 per event. The IHRA will be the sanctioning body all powerboat racing under their umbrella.
The newly formed IHRA Offshore Racing Series will debut in 2026, featuring premier race venues, enhanced media coverage, and a unified competition structure. Further details, including the 2026 race schedule and partnership initiatives, will be announced in the coming weeks. More details to come on IHRA.com and Speedboat.com.