DEFA14A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): October 5, 2007

HD PARTNERS ACQUISITION CORPORATION

(Exact Name of Registrant as Specified in Charter)

Delaware	001-32890	20-3893077
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

2601 Ocean Park Boulevard Santa Monica, California	90405
(Address of Principal Executive Offices)	(Zip Code)

Registrant's telephone number, including area code: (310) 209-8308

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

x Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

COMMENCING SHORTLY AFTER THE FILING OF THIS FORM 8-K, HD PARTNERS ACQUISITION CORPORATION (THE “REGISTRANT”) INTENDS TO HOLD PRESENTATIONS FOR CERTAIN OF ITS STOCKHOLDERS, AS WELL AS OTHER PERSONS WHO MIGHT BE INTERESTED IN PURCHASING THE REGISTRANT’S SECURITIES, REGARDING ITS ACQUISITION OF CERTAIN ASSETS OF THE NATIONAL HOT ROD ASSOCIATION’S (THE “NHRA”) PROFESSIONAL DRAG RACING SERIES (THE “ACQUISITION”). THIS CURRENT REPORT ON FORM 8-K WILL BE DISTRIBUTED TO PARTICIPANTS AT SUCH PRESENTATIONS.

THE REGISTRANT AND ITS DIRECTORS AND EXECUTIVE OFFICERS MAY BE DEEMED TO BE PARTICIPANTS IN THE SOLICIATION OF PROXIES FOR THE SPECIAL MEETING OF THE REGISTRANT’S STOCKHOLDERS TO BE HELD TO APPROVE THE ACQUISITION AND RELATED MATTERS. STOCKHOLDERS OF THE REGISTRANT AND OTHER INTERESTED PERSONS ARE ADVISED TO READ, WHEN AVAILABLE, THE REGISTRANT’S PRELIMINARY PROXY STATEMENT AND DEFINITIVE PROXY STATEMENT IN CONNECTION WITH THE REGISTRANT’S SOLICITATION OF PROXIES FOR THE SPECIAL MEETING BECAUSE THESE PROXY STATEMENTS WILL CONTAIN IMPORTANT INFORMATION. SUCH PERSONS CAN ALSO READ THE REGISTRANT’S FINAL PROSPECTUS, DATED JUNE 1, 2006, ITS REPORT ON FORM 10K FOR THE FISCAL YEAR ENDED DECEMBER 31, 2006 AND OTHER REPORTS AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION (“SEC”), FOR A DESCRIPTION OF THE SECURITY HOLDINGS OF THE REGISTRANT’S OFFICERS AND DIRECTORS AND THEIR RESPECTIVE INTERESTS. THE DEFINITIVE PROXY STATEMENT OF THE REGISTRANT WILL BE MAILED TO STOCKHOLDERS AS OF A RECORD DATE TO BE ESTABLISHED FOR VOTING ON THE ACQUISITION. STOCKHOLDERS WILL ALSO BE ABLE TO OBTAIN A COPY OF THE DEFINITIVE PROXY STATEMENT, WITHOUT CHARGE, BY DIRECTING A REQUEST TO THE REGISTRANT AT: 2601 OCEAN PARK BOULEVARD, SANTA MONICA, CALIFORNIA 90405. THE PRELIMINARY PROXY STATEMENT AND DEFINITIVE PROXY STATEMENT, ONCE AVAILABLE, AND THE FINAL PROSPECTUS AND OTHER SEC FILINGS OF THE REGISTRANT CAN ALSO BE OBTAINED, WITHOUT CHARGE, AT THE SEC’S INTERNET SITE (http://www.sec.gov).

THE PRO FORMA FINANCIAL INFORMATION AND DATA CONTAINED IN THE EXHIBITS HERETO FOR THE ASSETS OF THE PROPOSED BUSINESS TO BE ACQUIRED IS UNAUDITED AND PREPARED BY THE NHRA AS A PRIVATE ENTITY, AND DO NOT CONFORM TO SEC REGULATION S-X. ACCORDINGLY, SUCH INFORMATION AND DATA WILL BE ADJUSTED AND PRESENTED DIFFERENTLY IN THE REGISTRANT’S PROXY STATEMENT TO SOLICIT STOCKHOLDER APPROVAL OF THE ACQUISITION AND RELATED MATTERS.

Item 8.01 Other Events

Investor Presentation

The presentations attached hereto as Exhibits 99.1 and 99.2 are in the form of slide show presentations that the Registrant expects to use in investor presentations to describe the Acquisition and the proposed business to be acquired and operated by the Registrant, assuming that the stockholders of the Registrant approve the Acquisition and the related matters.

Non-GAAP Financial Measures

The investor presentations filed as exhibits to this Report include certain financial information not derived in accordance with generally accepted accounting principles (“GAAP”). The Registrant believes that the presentation of this non-GAAP financial information may be useful to investors as it provides general information regarding the proposed business to be acquired and operated by the Registrant, assuming that the stockholders of the Registrant approve the Acquisition and the related matters.

Forward-looking Statements

This Current Report may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, about the Registrant, the NHRA and their combined business after completion of the proposed acquisition. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, based upon the current beliefs and expectations of the Registrant’s and the NHRA’s management, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: the failure of the Registrant’s stockholders to approve the asset purchase agreement and the transactions contemplated thereby; the number and percentage of the Registrant stockholders voting against the acquisition; changing interpretations of generally accepted accounting principles; continued compliance with government regulations; legislation or regulatory environments, requirements or changes adversely affecting the businesses in which the NHRA is engaged; demand for the products and services that the NHRA provides, general economic conditions; geopolitical events and regulatory changes, as well as other relevant risks detailed in the Registrant’s filings with the Securities and Exchange Commission. The information set forth herein should be read in light of such risks. Neither the Registrant nor the NHRA assumes any obligation to update the information contained in this Current Report.

Additional Information and Where to Find It

In connection with the proposed acquisition and required stockholder approval, the Registrant will file with the Securities and Exchange Commission a proxy statement which will be mailed to the stockholders of the Registrant. The Registrant’s stockholders are urged to read the proxy statement and other relevant materials when they become available as they will contain important information about the acquisition of assets from the NHRA and the related transactions. The Registrant’s stockholders will be able to obtain a free copy of such filings at the Securities and Exchange Commission’s internet site (http://www.sec.gov). Copies of such filings can also be obtained, without charge, by directing a request to HD Partners Acquisition Corporation, 2601 Ocean Park Blvd., Suite 320, Santa Monica, California 90405.

The Registrant and its officers and directors may be deemed to have participated in the solicitation of proxies from the Registrant’s stockholders in favor of the approval of the Acquisition and related transactions. Information concerning the Registrant’s directors and executive officers is set forth in the publicly filed documents of the Registrant. Stockholders may obtain more detailed information regarding the direct and indirect interests of the Registrant and its directors and executive officers in the Acquisition by reading the preliminary and definitive proxy statements regarding the Acquisition, which have been and will be filed with the SEC.

Item 9.01 Financial Statements and Exhibits.

(d)    Exhibits.

Exhibit No.	Description
99.1	Investor Presentation
99.2	Summary of HD Partners/NHRA Transaction

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: October 5, 2007

HD PARTNERS ACQUISITION CORPORATION

By: /s/ Eddy W. Hartenstein                        

Eddy W. Hartenstein

President and Chief Executive Officer

EX-99.1

Acquisition of
NHRA Pro Racing
by
HD Partners Acquisition Corporation

Investor Presentation

The attached presentation was filed with the Securities and Exchange Commission as part of the Form 8-K/A filed by HD Partners Acquisition
Corporation (“HD Partners” or “HDP”) on October 5, 2007. HDP is holding presentations for its stockholders regarding its proposed purchase of
certain assets of the National Hot Rod Association (“NHRA”), as described in an earlier Schedule 14A filed by HDP on July 17, 2007 and
subsequently amended on September 11, 2007 which describes the acquisition in more detail.

Morgan Joseph & Co. Inc. (“Morgan Joseph”), the managing underwriter of HDP’s initial public offering (“IPO”) consummated in June 2006, is
assisting HDP in these efforts and will receive an advisory fee equal to $300,000.  In addition, Morgan Joseph, as representative of the
underwriters, is entitled to receive deferred underwriting fees of $3 million upon consummation of this transaction.  HDP and its directors and
executive officers may be deemed to be participants in the solicitation of proxies for the special meeting of HDP’s stockholders to be held to
approve this transaction.  To date, Morgan Joseph’s activities have not included actions that would deem such a firm to be engaged in the
solicitation of proxies for HDP, although the firm may be so engaged in the future.

Stockholders of HDP and other interested persons are advised to read HDP’s preliminary proxy statement, as amended, and definitive proxy
statement, when available, in connection with HDP’s solicitation of proxies for the special meeting to approve the acquisition because these
proxy statements will contain important information.  Such persons can also read HDP’s final prospectus, dated June 1, 2006, as well as
periodic reports, for more information about HDP, its officers and directors, and their individual and group security ownership in HDP, and
interest in the successful consummation of this business combination.  Stockholders may also refer to the HDP proxy statement for information
about Morgan Joseph’s security holdings in HDP.  The definitive proxy statement will be mailed to stockholders as of a record date to be
established for voting on this transaction.  Stockholders will also be able to obtain a copy of the definitive proxy statement, the final prospectus
and other periodic reports filed with the Securities and Exchange Commission, without charge, by visiting the Securities and Exchange
Commission’s Internet site at (http://www.sec.gov).

2

Safe Harbor

This presentation may contain forward-looking statements within the meaning of the Private Securities Litigation Reform
Act of 1995, about HDP,NHRA and their combined business after completion of the proposed transaction.  Forward-
looking statements are statements that are not historical facts.  Such forward-looking statements, based upon the
current beliefs and expectations of HDP’s management, are subject to risks and uncertainties, which could cause actual
results to differ from the forward-looking statements.  The following factors, among others, could cause actual results to
differ from those set forth in the forward-looking statements: continued compliance with government regulations;
changing legislation or regulatory environments; requirements or changes affecting the businesses in which NHRA is
engaged; auto racing and sports industry trends, including factors affecting supply and demand; NHRA’s dependence
on attendance and sponsorships; labor and personnel relations; NHRA’s revenue and profitability; changing
interpretations of generally accepted accounting principles; and general economic conditions, as well as other relevant
risks detailed in HDP’s filings with the Securities and Exchange Commission, including its report on form 10-K for the
period ended December 31, 2006.  The information set forth herein should be read in light of such risks.  Neither HDP,
nor NHRA assumes any obligation to update the information contained in this presentation.

This presentation contains disclosures of EBITDA for certain periods, which is a non-GAAP financial measure within the
meaning of Regulation G promulgated by the Securities and Exchange Commission.  Management believes that
EBITDA, or earnings before interest, taxes, depreciation and amortization, is an appropriate measure of evaluating
operating performance and liquidity, because it reflects the resources available for strategic opportunities including,
among others, investments in the business and strategic acquisitions.  The disclosure of EBITDA may not be
comparable to similarly titled measures reported by other companies.  EBITDA should be considered in addition to, and
not as a substitute for, or superior to, operating income, cash flows, revenue, or other measures of financial
performance prepared in accordance with generally accepted accounting principles.

3

Contents

Background and Highlights

NHRA Overview

Growth Opportunities & Strategy

Financial Overview

4

Background

In June 2006, HD Partners Acquisition Corporation (HD Partners)
raised gross proceeds of $150M

On May 30, 2007, HD Partners entered into a definitive agreement with
the National Hot Rod Association (NHRA) to purchase substantially all
of the NHRA’s professional drag racing series/assets as well as a
broad set of exclusive commercialization rights

The assets will be held by NHRA Pro Racing, a wholly-owned
subsidiary of HD Partners

The transaction is expected to close in late 2007

5

Transaction Highlights

NHRA Pro Racing is a unique entertainment asset with a well
recognized brand

World’s preeminent drag racing series

49% television viewership increase from 2000 to 2006

HD Partners management is uniquely qualified to maximize
NHRA’s potential

Built DIRECTV into the nation’s leading provider of digital television,
with approximately 12.2 million customers and $7.7 billion in revenues

Developed and successfully marketed many innovative sports products,
such as NFL Sunday Ticket and NBA League Pass

HD’s plan projects doubling EBITDA within three years

Significant “low-hanging fruit” to harvest

Excludes expected impact of future acquisitions

6

Selectively Acquiring Profitable Assets
with Greatest Growth Potential

Continued
Association
Expertise Will
Benefit Both
Entities

Acquiring

Leaving Behind

POWERade Drag Racing Series

   and All NHRA Pro Racing Activities

Exclusive, Worldwide License

To NHRA Brand for Pro Racing Activities,

Licensing and Sponsorships

NHRA Owned Tracks

Gainesville, Atlanta, Columbus, Indianapolis

Approximately $50 million of real estate

Media Exploitation Rights

Broadcast TV/Radio, DVD, Photos,

Internet, Mobile, Gaming, Pro-focused

Publications

Exclusive Merchandise Rights

NHRA Pro and Generic NHRA Products

NHRA.com Website

Association provided shared access

Sportsman/Amateur Racing

National Dragster Magazine

Nostalgia/Reunion Events

Youth/Educational Programs

Racing Operations

Sanctioning

7

Transaction Summary

Transaction enterprise value: $121M ⁽¹⁾

$100M cash

$11.5M in assumed debt

$9.5M in HD Partners’ common equity

Includes real estate of approximately $50 million

NHRA Pro Racing Management Structure

Eddy Hartenstein:  Chairman

Tom Compton:  President and CEO

14 years with NHRA

President and CEO since 2000

Robert Meyers:  Chief Financial Officer

Larry Chapman, Steve Cox and Bruce Lederman to provide dedicated
executive support for new initiatives

Consulting contract with NHRA’s current EVP and General Manager

8

NHRA Overview

What is the NHRA?

The world’s largest motorsports organization

5,000+ events annually

1.5 million side-by-side races per year

300,000 participants

140 NHRA Member Tracks

# 2 motorsport in the US after NASCAR

ESPN Sports Poll 2006:

What is your favorite type

of racing?  (NASCAR 57%)

10

NHRA Professional Drag
Racing Series

23 national events per year

Over 80 days of racing

Up to 125,000 spectators per event

35 of top 50 DMAs

One-of-a-kind fan and sponsor access

All national events televised on ESPN2
and in high definition on ESPN2-HD

Over 4 hours of programming every race
weekend

49% viewership increase between 2000
and 2006

Continued significant viewership growth
during 2007

11

Large Nationwide Fan Base

National Event
Locations

NATIONAL EVENTS

1.

Los Angeles, CA**

2.

Phoenix, AZ

3.

Gainesville, FL**

4.

Houston, TX*

5.

Las Vegas, NV

6.

Atlanta, GA**

7.

St. Louis, MO*

8.

Topeka, KS

9.

Chicago, IL

10.

Englishtown, NJ

11.

Norwalk, OH

12.

Bristol, TN

13.

Denver, CO*

14.

Seattle, WA*

15.

Sonoma, CA

16.

Minneapolis, MN*

17.

Reading, PA

18.

Indianapolis, IN**

19.

Memphis, TN*

20.

Dallas, TX

21.

Richmond, VA

22.

Las Vegas, NV

23.

Los Angeles, CA**

Not a NASCAR Nextel

Cup market

** NHRA Owned/Leased Track

Balanced and
Diverse Fan
Base
Distribution

Source: Scarborough Research 2006 (Fan = Very or Somewhat interested)

12

Energetic and Diverse Racer Community

TONY PEDREGON

Funny Car

JR TODD

Top Fuel

ANTRON BROWN

Pro Stock Motorcycle

ANGELLE SAMPEY

Pro Stock Motorcycle

ASHLEY FORCE

Funny Car

MELANIE TROXEL

Top Fuel

JOHN FORCE

Funny Car

BRANDON BERNSTEIN

Top Fuel

PEGGY LLEWELLYN

Pro Stock Motorcycle

13

Increased Presence in
Mainstream Media

Driving Force TV Series on A&E

NHRA Race Day on ESPN2

American Dragster TV Series on ESPN2

Ashley Force on Jay Leno

Good Morning America Segment

AOL’s Hottest Athlete: Ashley Force

14

Chicago, IL

Bristol, TN

Las Vegas, NV

Indianapolis, IN

15

Powerful Fan and Sponsor
Experience

16

Growth Opportunities & Strategy

NHRA’s Past, Present & Future

Past

Grassroots nonprofit
membership organization;
run by and for hardcore
enthusiasts

Present

Utilizing highly profitable
professional race series
to support amateur
events & other non-profit
association activities

Future

Branded multimedia
entertainment platform
that serves established
fan base while attracting
new fans

50+ year ownership by non-profit organization – with non-profit goals

Profit-oriented
public company

18

Key Ingredients for NASCAR’s Success:

Example:NASCAR’s Emergence as Force in
Mainstream Sports and Media

Sponsor Expansion

Tremendous sponsor expansion over the past decade

1995: Winston, Skoal, STP, CITGO and Camel.

Today: AOL, Duracell, Gillette, Home Depot and NEXTEL / Sprint

Mainstream Entertainment Integration

In the past, exposure limited to news and sports television

Over past decade, NASCAR has integrated into mainstream
entertainment as a lifestyle brand

TV (MTV, Saturday Night Live, and reality TV)

Feature films such as Talladega Nights: The Ballad of Ricky Bobby

Competitive Formats / Dramatic Stories

Implementation of Winston / NEXTEL series formats has generated
greater fan interest, led to the addition of new events and tracks and
increased media coverage

NASCAR has successfully marketed the stories behind key drivers –
increasing appeal of the sport to more casual fans

Source: NASCAR Brand and Consumer Marketing Memo (2005)

19

Introduce New National Events – increase the current 23 national events by targeting
underserved regions

Reach new fans and expand the overall brand presence

Geographic expansion enhances sponsorship value

Targeted opportunities for international expansion

Plans for a new 24^th National Event for 2008 season were announced on September 1, 2007

Expand and leverage fan base

Use increased advertising and sponsor promotions to expandevent attendance and viewership

Enhance average revenue per spectator across various customer touch points

Opportunity:Expand NHRA’s Exposure and
Leverage Fan Base

Significant EBITDA growth can be created through expansion

of National Event-related economics

InitiativeEBITDA Contribution

Introduce New National Event$500K per event (average) ⁽¹⁾

Increase Paid Attendance$1M per incremental 5% ⁽²⁾

   Increase Paid Attendee Revenue$500K per incremental $1 spend ⁽³⁾

(1)  Assumes non-owned track(2)  Increase against 2006 paid attendance        (3) Increase against 2006 paid attendees

20

Quality sponsors from outside racing are increasingly attached to the sport

Significant unfilled opportunities in proven auto racing sponsorship categories

Opportunity:
Diversify Sponsors & Fill Key
Sponsorship Categories

Current Unfilled
Categories

Banking

Big Box Electronics

Consumer Electronics

Consumer Packaged Goods

Home Improvement

Information Technology

Internet Services

Pharmaceuticals

Quick Service Restaurants

Satellite Radio

Satellite TV

Wireless Products

Existing Automotive /
Racing Sponsors

Existing Consumer
Products Sponsors

21

HDP’s Advantage:
Leverage Management’s Extensive
Contact Network

DIRECTV experience provides high level contacts at many logical NHRA
partners

Consumer electronics retailers

Video and broadband distribution platforms

Television broadcasters and programmers

Emerging distribution platforms

Consumer electronics manufacturers

Auto manufacturers

Additional web of contacts through Board of Directors representation

XM Satellite Radio

Consumer Electronics Association

Thomson Multimedia

SanDisk

HDP Team will exploit an extensive network of

contacts to expand the NHRA reach and visibility

Successful Track Record of Strategic Partnering to Grow

Brand Recognition, Sales, and Customer Enthusiasm

22

Opportunity:
Expand Licensing, Merchandising &
Multimedia Revenues

Revamp and re-launch licensing and merchandising initiatives

Exploit NHRA’s potential as a lifestyle brand

Re-launch NHRA.com to enhance multimedia experience, online sales offerings and
advertising potential

Launch new publications and membership programs

License new products and services in proven auto enthusiast categories

NASCAR has licensed over 3,500 products and services

Establish presence in relevant retail venues

Management believes that merchandise spend rates can be significantly increased

NASCAR-branded products generated license fees of over $300M in 2005

Expand multimedia offerings; commercially exploit substantial video and
photo archive

Over 20,000 hours of previously unreleased video

Photo archive covering the entire 50+ year history of the sport

Introduce new DVD series

Other branded entertainment services have demonstrated ability to drive substantial revenue
and EBITDA through targeted DVD sales (e.g. WWE sold 3M video units generating $42.6M in
gross revenue in 2006)

Multiple untapped multimedia platform opportunities available

23

HDP’s Advantage:
Pioneers in Developing Multimedia
Revenue Opportunities

Developed and successfully marketed many innovative sports products

Out-of-market sports packages

Unique pay-per-view programming (Behind-the scenes)

Pioneered promotional programs linking key national retailers and special event
programming (e.g., Shania Twain, NFL Sunday Ticket)

Established first-of-a-kind relationships with national telephone operators (AT&T,
Verizon, Bell South) to integrate video offering with communication products

24

Growth Momentum is Accelerating

Substantial fan base growth in 2007

Overall growth in paid attendance of 9.5% ⁽¹⁾

Race event television viewership increase of over 8.0% ⁽¹⁾

Transaction is serving as catalyst for new initiatives

Announced new national event for 2008

Major sponsors renewed for 2008; new sponsor deals in process

2007 Year-in-Review DVD to be on sale in Mid-November

Other DVD / Video products in development for 2008 release

(1) Comparison of first 19 events of 2007 to first 19 events of 2006, excluding Brainerd for which numbers are not available.

25

Well-Capitalized Platform for Aggressive
Sports Media Expansion Opportunities

NHRA Pro Racing Opportunities

Upgrades to owned and non-owned track facilities

Strategic acquisition of new tracks

Ancillary racing assets

Complimentary media assets (hard and electronic)

Automotive enthusiast assets

Emerging sports media aggregation opportunities

Significant capabilities to expand revenues and leverage cost
efficiencies across multiple event-based businesses

Exploit efficiencies in infrastructure, event co-location and marketing

Enhance value to sponsors

Bundle media exploitation rights

26

Financial Overview

NHRA Pro Racing Financial
Overview

2006 Revenue

28

NHRA Pro Racing Financial
Overview

29

NHRA Acquisition Summary

The table illustrates the NHRA transaction valuation and multiples based on 2006 results:

LTM 6/30/07 Revenue and Adjusted EBITDA numbers only account for 21 events rather than the full
23 events because of schedule differences

The additional 2 events will occur in the third quarter of 2007 and will be reflected in the LTM
numbers at that time  

30

Comparable Valuation
Overview

The most relevant comparables are multi-media branded entertainment
companies

Characterized by established brand name, brand extension potential and multiple outlets for
distribution and consumption

Few direct comparables to NHRA; reviewed valuation for sports media assets,
racetrack operators and live entertainment companies

Most sports media assets are privately held and command substantial premiums in private
ownership transactions

Racetrack operators lack the substantial growth and brand extension characteristics that the
NHRA commands

The following table presents an overview of comparable transaction valuations:

31

Public Comparable Companies
Growth and Valuation Comparison

… and the valuation is substantially lower than most on a free cash flow basis

The acquisition multiple is slightly higher
than most comparables…  

Median: 9.9x

… but NHRA has grown faster than most of the
comparables…

Median: 11.8%

Negative Free
Cash Flow

Median: 28.6x

Negative Free
Cash Flow

32

Conclusion

Acquisition establishes a compelling
sports media asset foundation with the
capital and expertise to build a unique
entertainment platform

33

EX-99.2

   v089608_ex99-2 -- Converted by SECPublisher 2.1.1.8, created by BCL Technologies Inc., for SEC Filing