Tim Seebold and John Schubert say they have reacquired the Formula 1 Powerboat Championship from the International Hot Rod Association, ending IHRA\u2019s eight-month ownership of the series they founded in 2017.<\/p>\n
The two announced the deal on Friday, August 7, 2026, describing it as a mutually agreed transition rather than a falling out. IHRA acquired the series in December 2025<\/a> as part of a wider push into powerboat racing including offshore. IHRA has not issued its own statement on the deal, and this account reflects Seebold and Schubert\u2019s joint release.<\/p>\n Seebold thanked the outgoing owners.<\/p>\n We sincerely appreciate everything Darryl and his entire IHRA staff have done to elevate Formula 1 Powerboat Racing during its stewardship. The IHRA brought new energy, professionalism, and exposure to our sport, helping elevate the series and strengthen its foundation. We are grateful for the partnership and everything they have done for our teams, drivers, race promoters, sponsors, and fans, wishing them continued success in all of their endeavors.<\/p>\n Schubert struck a similar note.<\/p>\n This is truly a win-win for everyone involved. We\u2019re grateful for the relationship we\u2019ve had with the IHRA and proud of what we accomplished together. As we move forward, we\u2019re excited to build on that momentum and continue growing the premier powerboat racing championship in North America.<\/p>\n The season under IHRA had its difficulties. What was planned as an eight-round 2026 schedule was cut to five rounds on 30 June, with IHRA citing budget issues that had built up during the year. Alton, Illinois, already on the calendar for 17-19 July, became both round five and the title decider in the same weekend, and Dylan Anderson won his first Formula 1 championship there<\/a> after points leader Spencer Love suffered a mechanical failure while out in front.<\/p>\n