Indianapolis, Indiana – In a recent announcement, representatives of the Indianapolis Motor Speedway (IMS) Museum revealed that the facility is set to undergo a significant renovation. The project, which is estimated to cost $89 million, represents the first substantial upgrade to the site in four decades.
The disclosure included a conversation about the public phase of a capital campaign titled “The Stories Behind the Spectacle.” This fundraising initiative, amounting to $89 million, is intended to finance what officials have termed a “complete transformation” of the Museum.
According to a press release issued by the IMS Museum on Tuesday, this renovation stands as the first of its magnitude that the establishment has undergone in close to 40 years.
Details provided by the IMS Museum regarding the revamp suggest that the renovations will incorporate the development of seven permanent and three revolving galleries. Other additions will encompass new tours, exhibits, and a racing simulator.
As conveyed by the IMS Museum, “The new exhibits and experiences will bring to life the Museum’s vision to create a global destination that provides interactive, immersive and diverse Indianapolis 500 storytelling and educational experiences that can be enjoyed by guests of all ages.”
The IMS Museum operates as a tax-exempt nonprofit, and it is responsible for generating its own funding and revenue. Therefore, the capital campaign is a crucial component of the project. Despite being located within the IMS complex, the Museum functions as an independent entity and does not have a financial connection with the Indianapolis Motor Speedway.