INDIANAPOLIS — On Tuesday, the Indianapolis Motor Speedway Museum announced an upcoming renovation that will be the first for the museum in nearly 40 years.
The $89 million project is now entering the public phase of the campaign to raise funds with $46 million already raised from donations of local leaders and $20 million Lilly Endowment gift.
“We are deeply indebted to numerous community and business leaders, Lilly Endowment, Mary and Randy Rogers, Sandi and Scott Borchetta, The Bobby Rahal Family, and Mike Curb for their transformative gifts in support of the IMS Museum’s capital campaign and planned renovations. Their generosity and leadership will help us preserve and share the stories and innovations of the Indianapolis Motor Speedway in exciting ways and with new and diverse audiences,” said Robert Dyson, chair of the IMS Museum board of directors. “We hope everyone in central Indiana will join us and be part of The Stories Behind the Spectacle as we re-imagine the incredible stories of the Indianapolis Motor Speedway and the Indianapolis 500 – creating new experiences for our visitors to learn more about the traditions, personalities, technology and careers that comprise the Greatest Spectacle in Racing.”
The gift from the Lilly Endowment will be used to create a space to learn STEAM (Science, Technology, Engineering, Art and Math) within the museum.
The Indianapolis Motor Speedway Museum is a separate entity than the Indianapolis Motor Speedway entirely. This means all funding is created on it's own.
The museum, when finished, will feature:
- Seven permanent and three rotating galleries.
- The opportunity to get up close to some of the world’s most unique and valuable racing artifacts on a behind-the-scenes tour.
- The sensation of being in an IndyCar in a racing simulator.
- Learning to use the tools and equipment of the racing trade competing in a “pit stop competition."
“The relationship between the Indianapolis Motor Speedway and the IMS Museum is critical to telling the story of our history, introducing new fans to the racetrack and our races, and helping to keep the Indianapolis Motor Speedway a year-round attraction in central Indiana. From the very beginning, all of us at the Indianapolis Motor Speedway and the IMS Museum board of directors have unanimously and enthusiastically supported the IMS Museum’s vision,” said J. Douglas Boles, president of the Indianapolis Motor Speedway and IMS Museum board member.
Of the $89 million, $64 million will be use to transform the interior of the museum with new infrastructure and state-of-the-art technology. $15 million will be used to create a new automobile restoration facility.
The final $10 million will be used toward the creation of an endowment that allows the museum to acquire additional artifacts.
The IMS Museum basement exhibit area will close for construction in October 2023.
The Museum will completely close to the public in November 2023 and remain closed until April 2025 when the newly renovated IMS Museum will re-open in time for the 109th Running of the Indy 500.