The plan authorizes the state to loan the Speedway $100 million—money it will borrow through bonds—to make the grandstands more accessible to people with disabilities and to install lights for night races.
Some goals have been realized, while others are moving through the pipeline.
Spire Capital Partners has put its 50-percent stake in Zionsville-based Just Marketing International on the market, as the company's founder, Zak Brown, reportedly mulls accepting an offer to be CEO of the IndyCar racing series.
Indianapolis Motor Speedway officials and Indiana State Police feel good about their security plan for this year's Indy 500 and won't remove trash cans from the track in response to deadly blasts at the Boston Marathon.
A bill to help pay for $100 million in improvements at the Indianapolis Motor Speedway passed the House on Monday—but only on its second try, as some lawmakers expressed frustration about tapping horse racing money for the projects.
The move—debated Monday in the Indiana House Ways and Means Committee—is meant to subsidize upgrades at the Indianapolis Motor Speedway and make low-interest loans available to other auto tracks and businesses across the state.
Hulman & Co. CEO Mark Miles is revving up an ambitious plan to overhaul the IndyCar Series and Indianapolis Motor Speedway management team. He wants to develop a revenue-sharing plan that assures the series and the tracks that host its races are motivated to roll in the same direction.
Passes for parking inside the third turn for the Indianapolis 500 and Brickyard 400 NASCAR race went on sale Monday. Front-row parking spaces cost $75 while additional general parking spaces will sell for $25.
George had resigned in October after submitting a proposal to purchase IndyCar. He cited a conflict of interest as his reason for stepping down. He was allowed to return because he's no longer trying to regain control of the series.
A plan providing up to $100 million in state funding toward improvements at the Indianapolis Motor Speedway has won approval from the Indiana Senate.
Mel Harder had been with the Speedway for 22 years, most recently overseeing operations and facilities management for the famed Brickyard.
The Indianapolis Motor Speedway will need far more money than it will get from a proposed state tax subsidy if it hopes to be in the top tier of U.S. racing venues, sports business experts said.
I don’t begrudge the Speedway asking for help. But will there be additional return on investment?
The Indiana Senate Appropriations Committee on Thursday morning unanimously passed a bill that would capture state tax money generated at the Indianapolis Motor Speedway and give it back to the track to improve the facility.
Nearby businesses hope upgrades to the Indianapolis Motor Speedway from a proposed state taxing district would pave the way for additional offerings at the venue, including night racing.
A state senator plans to introduce a bill creating an Indiana Motorsports Investment District that would capture state sales, income and corporate taxes for future investment in the Speedway.
The Indianapolis Motor Speedway will make millions of dollars in updates to settle a Department of Justice investigation that found more than 360 violations of federal disability law.
Veteran executive Mark Miles now has one of the most difficult jobs in sports—putting open-wheel racing on sound financial footing.
New Hulman and Co. CEO Mark Miles will focus in his new role on all of Hulman & Co.’s ventures—including real estate holdings and Clabber Girl. But his biggest challenge will be turning around the money-losing IndyCar Series and bolstering one of the region’s most famous landmarks—the Indianapolis Motor Speedway.
Purdue University says jobs created by the racing sector in Indiana pay an average annual wage of nearly $63,000, well above the $39,700 state average.
