The IHRA Money Trail
His company was paid $1.4 billion to build Elon Musk's AI supercomputers, according to the lawsuit. In the same 18 months, he bought 13 racetracks. In June his company was fired. Two days later its work had been refiled under new contractors. By July the season was gone.
By Scott Tomsu · 7-time national champion · Lafayette, La. · Oct. 2026
In 18 months, Darryl Cuttell bought the IHRA and 13 racetracks. At the same time, his company was building Elon Musk's AI supercomputers in Memphis. Then SpaceX bought the AI company and got ready to go public, and somebody asked to see the bills.
The sequenceFebruary to the firing
- Feb 2SpaceX buys Musk's AI company, now SpaceXSI.SEC filing
- Feb 19Darana's contract is amended. A third of Cuttell's $28.5 million stock award goes to a Darana "key employee."lawsuit
- Mar 19–21IHRA season opens at Benson, N.C.
- Apr 1SpaceX files to go public. Its books now have to be audited for the SEC.
- AprilCuttell: "It was running smoothly until April when the new regime stepped in."Action News 5
- Apr 28Cuttell buys Empire Dragway in New York. His last track.
- MaySpaceXSI audits Darana, demands every subcontractor invoice, and stops paying its bills.lawsuit
- May 11Darana refuses the audit in writing.lawsuit
- Jun 12SpaceX goes public on Nasdaq.
- Jun 19–20IHRA Triple Crown, Hebron, Ohio.
- Jun 23SpaceXSI fires Darana, citing cause. Darana disputes it.lawsuit
- Jun 24Cuttell asks Shelby County to cancel every Darana permit on both supercomputers.lawsuit
- Jun 25–26Replaced in two days. SpaceXSI files 15 new permits for Darana's work under new contractors.county records
- Jul 9–10IHRA lays off staff and cancels the rest of the Nitro season.
- Oct 612 tracks go up for auction. Bids due Nov. 17.
Lawsuit items are SpaceXSI's claims. Darana denies them. No court has ruled.
| R/T | FEB 02 | MERGER CLOSES |
| 60' | APR 01 | IPO FILED |
| 330' | APR 28 | LAST TRACK BOUGHT |
| 660' | MAY 11 | AUDIT REFUSED |
| 1000' | JUN 12 | SPACEX GOES PUBLIC |
| 1/4 ET | JUN 23 | FIRED |
| MPH | JUN 25 | REPLACED · 2 DAYS |
| FINAL | JUL 09 | SEASON CANCELLED |
