Short Answer is Yes.

Control got away from the primary officers and into the hands of speculative investors, the only way to raise the capital needed. The deal died because the investors did not think that the NHRA was a viable investment. I agree with them, it would be better to start up from whole virgin cloth. Real property is 4 parcels of land, everything else is intangibles with a poor track record of self promotion.

d'kid

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Here's a summary of HD Partners Acquisition Group. Source yahoo/financial

Summary of HD PARTNERS ACQUISITION CORP - Yahoo! Finance

Not really...

HDP was formed to purchase a business for investment and growth with funding from Hedge Funds.
HDP was approved to be a publicly traded company.
HDP management agreed to acquire the "Professional Assets" of the NHRA.
HDP management agreed to acquire the Pomona Raceway Lease, Gainesville, Atlanta, Indy and Columbus as well as the building in Glendora.
HDP Stockholders decided by an overwhelming margin that NHRA was NOT the right business to acquire. Less than 100,000 stockholders voted for the purchase, there were 44 million stockholders.
HDP will now be disassembled since it failed to acquire a business.

I still hold one share of HDP for my scrapbook.

HD Partners Cartoon

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The empty seat doesn't buy a hot dog...

The summary i posted explains it clearly, they made their money (interest) off stock holders investments. They never made any acquisitions since starting partnership in Dec. 2005. The real truth will be when stock holders get their ROI on their investment. It's my observation but this is a stinky way for the top partners to make their money, it won't be pretty at payoff time.