Powerboat P1 can confirm the sale of its U.S. offshore racing operations, P1 Offshore USA, to the International Hot Rod Association (IHRA). The transaction marks a major milestone in the evolution of both organisations and opens an exciting new chapter for offshore powerboat racing in the United States.

Founded in 2003, Powerboat P1 has built an unrivalled international reputation as a global marine motorsport promoter, staging more than 200 events across 20 countries. The company will continue to operate from its UK headquarters, focusing on international growth of its core properties — including the AquaX personal-watercraft series and other global marine-racing platforms.

Under the agreement, IHRA assumes full ownership and management of P1 Offshore USA, with Powerboat P1 committing to a close working partnership during the transition period to ensure continuity and future success.

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“This transaction allows P1 Offshore USA to accelerate its growth under the IHRA umbrella while enabling Powerboat P1 to sharpen its focus on international expansion,” said Azam Rangoonwala, CEO of Powerboat P1. “We’re immensely proud of what P1 Offshore has achieved in the U.S., and we’re confident that IHRA’s experience in professional motorsport will take it to the next level.”

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The International Hot Rod Association, a long-established U.S. motorsport sanctioning body headquartered in Fairfield, Ohio, is leveraging its scale and organisational infrastructure to expand beyond drag racing into the marine sector. The new IHRA Offshore Division plans to launch an enhanced U.S. offshore racing series, highlighted by a record $1 million prize purse for the 2026 season — one of the largest in the sport’s history.
Powerboat P1 and IHRA share a common commitment to advancing the visibility, professionalism and commercial sustainability of marine motorsport. The two organisations have agreed to ongoing collaboration on promotional, technical and strategic fronts to ensure that offshore racing in the U.S. continues to flourish.

“Powerboat P1 remains deeply committed to growing marine motorsport globally,” added Rangoonwala. “Our work with IHRA exemplifies our philosophy of partnership and progress — building on two decades of innovation to help create an even stronger, more unified future for the sport.”

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Powerboat P1 will continue to develop its AquaX Global Series and expand its marine-motorsport footprint in the U.S., Middle East, Europe and Asia.