Offshore racers heading to the Key West World Championships next month will have more than checkered flags and trophies on the line when the first green flags fly. The International Hot Rod Association is putting up a $250,000 purse for the triple-race affair.

Owned by Darryl Cuttell, the Darana-Hybrid Mystic catamaran roared into Lake of the Ozarks Shootout history in August. Photo by Jeff Helmkamp copyright Helmkamp Photos

Even more far-reaching? In a move to “turn up the throttle as its expansion into powerboat racing surges ahead” the automobile drag-racing organization has confirmed it will fund a $1 million purse in 2026 for what will be called the IHRA Offshore National Championship Series.

The news was announced this morning in a press release.

“This is the start of something extraordinary,” said Darryl Cuttell, IHRA owner and chief executive officer, said in the release.. “We’re not just racing—we’re reviving a movement. Faith, family, and freedom built this sport, and we’re honoring that legacy by investing back into our racers.”

Cuttell purchased the venerable drag-racing organization earlier this year.

Added Carl McBride, the chief technology officer for the International Hot Rod Association, “Technology, logistics, and safety will be at the heart of this next era. Our goal is to give every team the tools, data, and consistency needed to elevate competition and ensure offshore racing continues to grow on a global scale.”

Cuttell (far right) found himself among Lake of the Ozarks Shootout legends John Cosker of Mystic Powerboats and American Ethanol team owner Don Onken.

High-performance powerboating fans unfamiliar with Cuttell and the drag racing world got to know of both in a record-setting hurry when Darana-Hybrid, his turbine engine-powered 51-foot Mystic catamaran reached 242 mph on the three-quarter-mile Lake of the Ozarks Shootout course.

Editor’s Note: This is a developing story. Look for a follow-up report early next week on speedonthewater.com