There’s nothing more American than a good, old-fashioned car race. Few sports rival the passion for auto racing in this country. We love our cars, and we’ve devoted endless hours to working on them and taking them out for fun. It’s no wonder that for more than 70 years, millions of fans have gathered to watch cars go around a track, battling it out for position. That’s what makes the Indianapolis Motor Speedway such an iconic symbol of American ingenuity and speed.
The crown jewel of the speedway, the Brickyard, hosts the “greatest race of all time” every year. The 500-mile spectacle brings together the best racing teams and drivers from around the world. In an amazing display of American ingenuity and muscle, contestants battle it out for position on a track that’s more than a quarter of a mile long. There are four turns, two straightaways, and up to 30 corners, all while weaving in and out of traffic. It’s safe to assume that not many sports arenas can match the excitement of a NASCAR race at the Indianapolis Motor Speedway.
While the passion for cars is deeply rooted in American culture, the Indianapolis Motor Speedway actually got its start as a way to bring the automobile industry together. During World War II, Henry Ford II and others in the industry believed that bringing factories together would offset some of the damage done by the war. In 1939, the first Indianapolis 500 was held at a racetrack in the middle of the city. It was a way for the car companies to gather together and have some fun while also showing off their latest products.
The sport really took off after the war. In 1947, the track switched locations to its current site in suburban Indianapolis. The following year, the first modern-day race was held. The 1950s and 1960s were the heyday of American auto racing. While some observers have cited the oil shocks of the 1970s as the reason for the decline in popularity of NASCAR, Indianapolis still hosts one of the biggest annual motor speedway races in the world. It’s not hard to see why.
A Brief History of Indianapolis Motor Speedway
In 1933, an idea was formed to bring the entire automobile industry together. Henry Ford II, Ralph P. Jacobs, and Donald Stohlman all had a hand in creating the Indianapolis Motor Speedway. Stohlman, the president of the Associated Machine Tool Builders of America, saw driving as a way to learn more about his industry. He said he wanted to create a place where machine tools could be displayed and demonstrated to improve the quality of their products. Later that year, the first official Indy 500 was held. It was originally supposed to be a one-off event, with no plans for a yearly race. However, the Indianapolis Raceway Park soon caught on and became a popular spot for auto racing fans. In 1936, the track was renamed the Indianapolis Motor Speedway.
The site of the current Indianapolis Motor Speedway originally hosted several other sports and concerts after the war. However, it wasn’t until 1947 that the track became a full-fledged auto racing venue. That same year, the first modern-day Indy 500 was held. The 1950s and 1960s were the heyday of American auto racing. While some observers have cited the oil shocks of the 1970s as the reason for the decline in popularity of NASCAR, Indianapolis still hosts one of the biggest annual motor speedway races in the world. It’s not hard to see why.
Top-Notch Facilities at the Speedway
One of the reasons why the Indianapolis Motor Speedway is so popular is that the organization put a lot of thought into the design of the track and the surrounding area. The whole experience, from the food to the souvenir shop, is tailored to enhance the visitor’s experience.
One of the things that make a trip to the speedway so special are the top-notch facilities. The Indianapolis Motor Speedway is home to many historic sports and entertainment venues, including the Indiana State Museum, the Indianapolis Colts’ Lucas Oil Stadium, and the IUPUI Athletic Hall of Fame Stadium.
The sports complex at the speedway also features an indoor practice track, a 4,000-seat grandstand, an outdoor concert area that holds 50,000 fans, and a 50,000-square-foot exhibition hall. It’s no wonder that the speedway received a “Super Bowl before Super Bowl” designation, as the facility is fully equipped to host sporting events, concerts, and other large-scale gatherings.
The Most Famous Race in American Sports
While there are certainly other sports venues that are just as prestigious, the Indianapolis Motor Speedway is arguably the most famous. For more than 70 years, millions of fans have gathered to watch cars go around the track, battling it out for position. The Brickyard is a quarter of a mile long and has four turns, two straightaways, and up to 30 corners, all while weaving in and out of traffic. It’s safe to assume that not many sports arenas can match the excitement of a NASCAR race at the Indianapolis Motor Speedway. There’s also a fifth leg of the race, the famous Indy 500, which is 500 miles long and starts in May.
The name “Indianapolis 500” actually comes from the first annual race. Organizers called it the “Indianapolis 500” because it was meant to be a tribute to all the Indians who had helped the white population settle the region. That first race, which was won by Ralph Mulford, covered a distance of just two and a half miles. The distance grew each year, and by 1935, it was a 500-mile race. In recent years, the 500 has been condensed into a four-hour period, much like the Indianapolis IndyCar Grand Prix.
Penske Sponsors the Race; Worth $15 Million
The biggest news that came out of the 2019 Indy 500 was the announcement that Penske Corp. would be the title sponsor of the race. This was a big deal because not only does Penske have a lot of experience in the motorsport industry, but the deal was worth an incredible $15 million over 10 years.
Penske is a global automotive group with operations in several key markets, including North America, where it operates 19 car dealerships and 28 service stations. It is also one of the largest motor sport sponsorships in the world. The company recently sponsored all the IndyCar races last season as part of a deal that will keep it as title sponsor of the Indy 500 for the next 10 years. To show its support, Penske will put a giant logo on their cars and trucks for the entire duration of the race, not just the final quarter mile.
What Did Penske Pay For Indianapolis Motor Speedway?
This is a question that has been asked for years, and the answer has usually been “nothing.” However, we now know that Penske will be paying a great deal for this sponsorship. While it’s common for motor sport sponsorships to be worth about as much as the event’s TV rights, this particular deal will be worth up to 15 times that amount.
One of the primary reasons why Penske paid so much for the Indy 500 is that it wants to showcase its expertise in motor racing. Penske has been involved with Indy car racing for over 80 years, and it has a long list of past and present champions it can parade around the track. The company also likes to think of the race as a way to launch new products and partnerships. In addition to being the title sponsor, it will also take on the role of naming partner for the entire month of May. The month-long festivities will be known as “Penske May.”
Penske, in particular, is looking to make a global impact by increasing its reach into areas such as e-commerce and online banking. The company already has a sizable digital footprint, so it’s quite fitting that it will be the owner of the “Official Digital Companion of the Indy 500.”
Penske’s investment in the Indy 500 isn’t an isolated incident. The company has invested heavily in motorsport, and in the past five years, it has purchased multiple Indy cars, fielded teams of up to four, and entered the event in the past three years. The company has also become a mainstay on the cover of major motorsport magazines, regularly gracing the cover of Car and Driver magazine. It even has a NASCAR driver named after it, Tim Penske.