IRG Sports + Entertainment™ (IRG) President & CEO, Jason Rittenberry, announced today that the Company has entered into a finance agreement with TPG Specialty Lending (NYSE:TSLX), the publicly traded affiliate of TSSP, the credit and special situations investment platform of TPG. The new credit facility is replacing IRG's existing debt facilities on all companies, make capital improvements to existing assets owned by the Company and to close on the acquisition of Cordova Dragway Park in Cordova, Illinois (to be rebranded as Cordova International Raceway™ (CIR), that was announced in late 2013. The TPG facility also provides the Company with funds to purchase an additional major motorsports venue, which the Company will announce in the coming weeks.
The International Hot Rod Association™ (IHRA) and IRG Sports + Entertainment™ are excited to announce the 2015 IHRA Nitro Jam Drag Racing Series (NJDRS) schedule. The 12-race, 2015 IHRA Nitro Jam Drag Racing Series North American Tour will include a number of traditional favorites, plus two new stops in Ohio and Washington as the series travels to nine states and Canada, making the IHRA one of the only truly international motorsports series.
Team SWIR competes this weekend in the IHRA Division 7 Gunslingers Finals. The team, comprised of the fastest racers this year from SWIR, will do battle at the Caprock Motorplex in Penwell, Texas. In Box, Champion Chuck Hawk, in a 2011 Spitzer Dragster, leads the team with Mike Gardner in a 1997 Ford Falcon Coupe, Cindy Hawk behind the wheel of a 1997 Yancer Dragster, Bill Kidd driving a Corvette, and Terry Markley in a 1989 Landshark Dragster. Champion Tim O’Moore, driving a 1988 Chevy Camaro, leads the No Box team with Jimmy Maddux in a 1979 Chevy Nova, Allen Morris piloting a 1971 Chevy Nova, and Marvin Wolfmeier at the wheel of a 1974 Chevy Vega Hatchback. The Junior Dragsters consist of Champion Gabe Brown, Richey Coronado, Siena Coronado, and Savannah Kidd. Good luck to all the SWIR racers at the 2014 Gunslingers Team Finals!