INDIANAPOLIS — The Indianapolis Motor Speedway Museum announced July 11 the first phase of a new multi-million dollar transformation.
The Stories Behind the Spectacle Campaign, an $89 million capital campaign, includes funding from a $20 million grant from Lilly Endowment and $15 million in lead gifts.
This announcement marks the first significant renovation to the museum in nearly 40 years.
"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," said Robert Dyson, chair of the IMS Museum board of directors.
The new exhibits and experiences are part of the museum's efforts to make the Indianapolis Motor Speedway a global destination that can be enjoyed by guests of all ages at all times of the year.
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As a nonprofit, the IMS Museum is responsible for its own fundraising. The capital fund launched earlier this year and has already achieved 51% of its funding goal, having already $46 million committed.
In addition to the grant from Lilly Endowment, the lead donations come from Mary and Randy Rogers, as well as the Dyson Foundation.
The Lilly Endowment plays a key part in some of the new exhibits that are set to be included in the renovated museum. The money provided from the grant will be used to inspire a STEM (Science, Technology, Engineering, and Math) classroom, and will feature educational resources and programs for those wanting to learn more about the science of motor racing.
Museum leaders are currently working with educational institutions to develop the curricula and reach new audiences.
Outside of the educational exhibits, the renovated museum will feature new immersive experiences compared to their current counterparts.
The IMS Museum is planning seven permanent and three rotating galleries, an exhibit on some of the world's most unique and valuable racing artifacts and memorabilia, an IndyCar simulator experience, and even a chance to simulate a pit stop using real-world tools.
"The IMS Museum will create an immersive and awe-inspiring environment for visitors to experience the thrill of the Greatest Spectacle in Racing in new and unique ways, while at the same time celebrating the history and traditions that make this place and, in particular, the Indianapolis 500, unlike anything else on earth,” said Doug Boles, president of IMS.
The renovation will be completed in phases and is expected to fully reopen in time for the 109th Indianapolis 500 in May 2025. The first phase of renovation will see the basement exhibit area close in October later this year. One month later in November, the museum will close completely for the rest of 2023 and entirety of 2024 before reopening in April 2025.