New ownership plans to supercharge Powerboat Grand Prix

Powerboat racing will soon return to St. Petersburg with a deep-pocketed new ownership group, a wider television audience and a greater economic impact.

The International Hot Rod Association (IHRA) has acquired P1 Offshore, the St. Petersburg Powerboat Grand Prix’s previous promoter. Local tourism officials are now scrambling to ensure the 55-year-old motorsports organization will still receive $125,000 in previously approved Elite Event funding.

Pinellas County commissioners, who must approve a revised application in February, can expect a substantial return on their investment. Visit St. Pete-Clearwater (VSPC) announced Tuesday that the IHRA plans to generate a $12.7 million economic impact when the Powerboat Grand Prix returns March 27-29.

“A big piece of the puzzle here, as well, is the TV exposure that’s included with this event,” said Craig Cambell, director of community and brand engagement for VSPC. “So commercial units and broadcast elements on CBS Sports, YouTube and Speed Sport.”

Commercial units are televised advertising spots. P1 previously live-streamed the Powerboat Grand Prix on the Racer Network, its YouTube Channel and its Facebook page.

Another major change is the timing. A new-and-improved Powerboat Grand Prix will take over St. Petersburg’s downtown waterfront just six months after the previous iteration.

Campbell told the Tourist Development Council that the city will kick off rather than conclude what is now known as the IHRA Offshore Series. VSPC expects the event to generate over 12,000 overnight stays.

Ahead of the 5th annual St. Petersburg Powerboat Grand Prix in September, Michelle Petro, director of operations for P1, called the city “one of the top venues.” She also said the races have attracted between 15,000 and 20,000 people in recent years, slightly less than in other cities, largely due to inclement weather.

The IHRA expects to more than triple the number of attendees and attract 60,000 people to the Pier District and Vinoy Park.

P1 will operate under the IHRA umbrella, which could continue to expand. An announcement states that “the unification of these two respected motorsport organizations established a bold new direction for the sport’s future, alongside continued dialogue with Race World Offshore regarding future alignment.”

“We are committed to elevating the sport of powerboat racing through innovation, unity and global reach,” said Darryl Cuttell, CEO of the IHRA, in a prepared statement. “Together, we will build an organization that champions excellence, expands opportunity and inspires the next generation of racers and fans.”

The IHRA pledged to expand media coverage of the event and series. Photo by Mark Parker.

Cuttell, who also recently acquired F1 Powerboat Racing and the famed Rockingham Speedway, is putting his money where his mouth is: The 2026 IHRA Offshore Series will feature a $2,000,000 total purse.

“IHRA’s leadership brings new energy and scale to powerboat racing,” said Azam Rangoonwala, CEO of P1 Offshore. “Their commitment to professionalism and growth ensures that the sport will continue to thrive and connect with audiences around the world.”

However, there are some concerns surrounding the timing of this year’s Grand Prix. Visit St. Pete-Clearwater (VSPC) learned of the acquisition in mid-November, and the IHRA subsequently shifted the local event’s date from September to March.

“Obviously, these are some substantial changes,” Campbell said. “So, that necessitated a new Elite Event funding application.”

A VSPC committee quickly reviewed the application and recommended providing IHRA with the previously approved $125,000, Campbell said. Councilmember Dylan Hubbard asked if the new date factored into its decision, as the event will now move from “a slower time of the year to peak season.”

Campbell said that was a consideration and “the bulk of our conversation” with the IHRA. The area will already be brimming with spring breakers in March.

VSPC expressed concern to the IHRA about the powerboat races occurring in March moving forward. Campbell said the date is “not set in stone.”

“Because of the late purchase in the year, it really pushed back the start of their season,” he added. “But their ideal date is actually in early February. So, we’re hoping to kind of get into that cycle in 2027.”

Campbell said VSPC is “excited about that prospect,” and did not want to “handcuff this year’s application.” Tourist Development Council members unanimously approved the funding request.

The St. Petersburg Powerboat Grand Prix debuted in 2021 and attracted an estimated 30,000 people. Attendance has declined from that peak in recent years. Photo: Visit St. Pete-Clearwater.