Im sure it was a total loss. Hope he has good insurance with track coverage or a really big pocket book to eat the loss.
It will be almost impossible to replace.
You realize that a Cobra Jet is not street legal? It doesn't have a VIN - it is a factory race car and only 50 are produced a year. No insurance coverage like you and I get so he won't be calling up his State Farm agent on that one.
So if he can afford the $100,000 to buy the car, he probably can afford to fix it too. And he may have bought the track insurance but then it depends upon what coverage he selected. Some cover only on the track and some only in the pits and not on the track itself.