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January 20, 2001

The American Drag Boat Association (ADBA) and the St. Louis Drag Boat Association (SLDBA) held their annual joint general meeting and awards banquet January 20th in St. Louis, Missouri. At the meeting, it was announced that the International Hot Boat Association (IHBA) had acquired the assets of the American Drag Boat Association. The terms of the agreement, as presented by ADBA president Karl Petrik and IHBA president Charlie Fegan, are as follows:

1. IHBA purchased assets, trade name, and logo of the ADBA.
2. ADBA will no longer sanction or conduct drag boat races.
3. ADBA principals will remain involved to help facilitate racing
on the east coast and racing nationally.
4. IHBA will sanction and conduct the former ADBA races
in Augusta, Georgia and High Point, North Carolina. Both
will be IHBA Division III as well IHBA National Series races.
5. IHBA will negotiate with the promoters in Gadsden, Alabama
for the rights to that race.

"This is the best thing we can do for the sport," Petrik said to Fegan. "Don't let me down!"

Although not directly tied to the agreement signed by the ADBA and IHBA, there were discussions between the IHBA and SLDBA regarding possible "dual points" races to be held between the two associations. After a SLDBA Board vote, it was decided that SLDBA's St. Louis, Missouri and New Athens, Illinois races will become "dual points" races. The IHBA would offer the Gadsden, Alabama race if it secures a contract for that race. Under the terms being discussed, racing members of either IHBA or SLDBA would not be required to join the other association in order to race at any race offered by either association. They would, however, be required to join each individual association if they wished to participate in the annual high points championship series of that association. Participants would still be required to pay the usual entry fees. Each participant's boat would be safety inspected per the rules and regulations of the association of which he is a member. The actual race itself would be conducted under the rules and regulations of the hosting association. Discussions are ongoing at this time.

The 2001 IHBA Contingency Program will be offered at all IHBA events and the designated "dual points" races, as well as two additional SLDBA races to be determined.

Charlie Fegan also took the opportunity to present the IHBA television program for the upcoming season. The IHBA has signed a multi-year contract with Speedvision, which calls for a show to be broadcast at 11:00 a.m. (eastern standard time) every Sunday and every Wednesday at 3:30 p.m. (eastern standard time) for fifty-two weeks. The twelve National Series races, as well as a few specials will be aired. The first shows will air in July. This will allow the television crews sufficient time to film several races so that they will have enough tape "in the cans" in case of a rain out or other difficulties at one of the races.

Full Name: 
American Drag Boat Association