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23-435: In 1958, 15 Indianapolis-area businessmen and racing professionals led by Tom Binford , Frank Dickie, Rodger Ward , and Howard Fieber invested $ 5,000 each to fund the development of a 267-acre (108 ha) farm tract into a recreational sporting complex that would focus on auto racing. The original intention was to create a 15-turn, 2.500 mi (4.023 km) road course, but as an insurance measure against economic problems,

46-408: A caution in 1981. His penalty was overruled by a USAC appeals board five months later. In 1995, Binford penalized Jacques Villeneuve early in the race for a restart violation and later gave a stop-and-go penalty to Scott Goodyear after Goodyear passed the pace car on the final restart. The 1995 race was his last as chief steward before retiring in 1996. Binford suffered a cerebral hemorrhage while he

69-517: Is no other area on the current track layout suitable to relocate a viable pit lane. However, club racing and private testing used a section of track that runs parallel to the backstretch of the oval (Turns 6–8) as a makeshift pit, although enough section of the return road for the drag strip could also be used if realigned. The last SCCA club road race was held in 2007. The road course surface is in disrepair and very bumpy, and would need improvement to be of use again. There are plans to redesign and renovate

92-629: The Indianapolis 500 . It was previously held on Saturday Night under the name Night before the 500, and is currently held on Friday night as the Carb Night Classic . Similarly, the NASCAR Nationwide Series Kroger 200 was given a "Night before the 400 " status; a Truck Series race was added to the weekend in 1995. When Formula One raced at IMS, midget, sprint, and stock car races were held at ORP in

115-599: The Labor Day weekend, is the only event on the NHRA schedule with final eliminations scheduled on a Monday. An all-star style race, called the Traxxas Nitro Shootout, is held for the two nitro divisions (Top Fuel on Saturday and Funny Car on Sunday). The winners in each division win $ 100,000 US, while the race itself has the largest purse of any NHRA sanctioned event at over $ 250,000 US. The drag strip has held

138-522: The "Night Before F1" meets, including the 2002 and 2003 USGP races that featured a twin 25-lap midget format, with a full inversion, and the winner winning $ 50,000 if they could win both features. The 15-turn road course was used by the Indianapolis area Sports Car Club of America road racing events. The initial Indianapolis Raceway Park road race was an SCCA event held in 1961. In 1965, rookie driver Mario Andretti won his first Indy car race on

161-433: The 1969 movie Winning , Paul Newman 's character, Frank Capua, competes in a USAC Stock Car event on the road course. After an insurance investigation of the pit out opening for the road course, which is located along the left lane wall of the drag strip, the insurance carrier demanded the pit out be closed off with a permanent concrete wall. This effectively meant closing the road course for competition purposes, as there

184-514: The Chief Steward of the Indianapolis 500 , presiding over its transition from United States Auto Club governance to Indy Racing League governance. Binford attended Princeton University , where he was a member of Phi Beta Kappa . He was interim president of DePauw University in 1975–76. Although he did not have any prior banking experience, Binford was elected chairman and chief executive officer of Indiana National Corporation ,

207-634: The Saturday of Kroger Super Weekend . This race replaced the Kroger 200 , which had been held at the nearby Lucas Oil Raceway at Indianapolis , formerly known as Indianapolis Raceway Park, for the previous 30 years. Brad Keselowski won the inaugural event. For 2016, as part of the Xfinity "Dash for Cash" format, the race was 250 miles in total, but two 20-lap heat races, similar to the Can-Am Duel ,

230-538: The event every year since 1961, when the race was moved from Detroit. Sprint and midget races are held on the oval, along with other events suited to a shorter track. Raceway Park traditionally stages an extensive program on the Saturday nights of major races at the Indianapolis Motor Speedway . On Memorial Day weekend, the venue hosts a USAC Silver Crown, Sprint Car and Midget Car event, serving as something of an unofficial preliminary event to

253-487: The holding company for the largest bank in the state of Indiana, from 1976 to 1981, turning the company around after it lost money during the 1973–75 recession . He was instrumental in bringing the Colts to Indianapolis. His greatest contribution was creating an environment in the city of Indianapolis where issues of civil rights and race could be discussed productively and without rancor. A street in northeastern Indianapolis

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276-503: The investment group decided to incorporate a quarter-mile drag strip into the long straightaway of the road course design. Constructed with assistance from the National Hot Rod Association (NHRA), the drag strip was the first to be completed, with the facility's first event held on the strip in the fall of 1960. The facility was called Indianapolis Raceway Park. A year later, a 0.686-mile (1.104 km) paved oval

299-526: The length of stages 1 and 2 from 25 laps to 30 laps each, with the final 40 laps making up Stage 3. On January 15, 2020, new track owner Roger Penske announced that the race will move from the oval to the track's infield road course; Penske had purchased the track in late-2019. Despite the switch, the NASCAR Cup Series ' Brickyard 400 continued to race on the oval, although the Cup race did move to

322-592: The road course the next season. Royal Dutch Shell took over as title sponsor of the race, renaming it the Pennzoil 150 after their Pennzoil brand. On March 26, 2020, as part of changes to the 2020 IndyCar Series schedule to account for the COVID-19 pandemic , it was announced that the series' GMR Grand Prix —an IMS road course race typically held as a prelude to the Indianapolis 500 —would be postponed to July 4, 2020, and form an IndyCar/NASCAR double-header with

345-680: The road course, but track officials say it is a long term goal. In 2012, it was announced that the NASCAR Nationwide Series race at Lucas Oil Raceway would move to Indianapolis Motor Speedway as the Indiana 250 to replace the Kroger 200, and that it would be joined by Rolex Sports Car Series and Continental Tire Sports Car Challenge races under the banner " Super Weekend at the Brickyard ". The Camping World Truck Series event

368-673: The road course, in an event that was historic in that it was the first time in modern history that American Indy cars raced on a road circuit. For the next six years, the road course hosted the Hoosier Grand Prix , a round of the USAC National Championship Series , the same series that included the Indianapolis 500 , as well as the USAC Stock Car series, including the Yankee 300 . Notably, in

391-442: The track announced the track's renaming to Lucas Oil Indianapolis Raceway Park. As of May 2024, the fastest lap records at Indianapolis Raceway Park are listed as: Qualifying records Race lap records Source: Tom Binford Thomas Wyatt Wilson Binford (April 6, 1924 – January 14, 1999) was an Indianapolis -based entrepreneur and philanthropist . One of Indianapolis' most influential men, Thomas W. Binford,

414-530: Was a pioneer, visionary, and civil rights leader. He participated in civic, philanthropic, cultural, and political aspects of the city and state and was valued for his sensitivity, wise counsel, personal and financial support, and sincerity. In addition to his many personal interests, Binford spearheaded a group to buy the Indiana Pacers basketball team in 1975 and served as its president and general manager for one year. From 1974 to 1995, Binford served as

437-404: Was at his office in Indianapolis and later died at Methodist Hospital . He is buried at Crown Hill Cemetery in Indianapolis . This biographical article about a philanthropist is a stub . You can help Misplaced Pages by expanding it . Lilly Diabetes 250 The Pennzoil 250 is a NASCAR Xfinity Series auto race held at the Indianapolis Motor Speedway since 2012. It takes place

460-427: Was completed to finish off the track capabilities of the complex. The oval track was used as-is until an overall track renovation was completed in 1988 in order to increase speed on the track. The premier feature of Lucas Oil Raceway is a 4,400-foot (1,300 m) long drag strip. The single NHRA event held at the facility is the oldest and most prestigious of the series. The NHRA U.S. Nationals , held every year during

483-463: Was renamed Binford Boulevard in his honor. Binford began serving as chief steward during the 1973 Indianapolis 500 . In 1978, Binford was a candidate in the FISA presidential election but lost the election to Jean-Marie Balestre by 29 votes to 11. His most notable races include the 1981 Indianapolis 500 and the 1995 Indianapolis 500 . Binford penalized Bobby Unser one lap for illegal passes under

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506-598: Was replaced with a new event at Eldora Speedway . As a result, the ARCA Racing Series became the lone national stock car racing series to sanction a race at the track, running its own 200-lap event. NASCAR announced in September 2021 that the Truck Series would return to Lucas Oil Raceway in 2022 as the first playoff race, marking the return by NASCAR after an eleven year absence. On December 8, 2021,

529-433: Was to be added to be run prior to the 60-lap main event. In 2017, the race would not continue the heat races and instead use the new stage format with stages 1 and 2 being 25 laps each, and stage 3 being 50 laps. In addition, the event would not be a Dash for Cash event and that has been moved to Phoenix's Spring event. In late-June 2017, due to drivers saying that they could go easily 25 laps on tires and fuel, NASCAR increased

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