INTRODUCTION

I remember my trip to the Indianapolis Motor Speedway in 2011 as being one of the greatest experiences of my life. Once you drive through the tunnel, you can feel the history that has unfolded right here in this very spot. From Johncock beating Mears and Hornish beating Andretti. I walk along the flat turns along the white lines and imagine what it must feel like to rocket around the turns at 230 miles an hour. I walk down the front stretch and imagine the fans on their feet and the sound of the crowd at times overpowering the sound of the powerful V6 Indycar engines. You approach the pagoda and you come to the legendary yard of bricks. You kneel down and kiss the bricks the way legendary drivers like Unser, Rahal, Andretti, and Mears once did. In short, the Indianapolis Motor Speedway is the mecca of racing. The Indy 500 is the most prestigious motor racing event in the world, as well as the most economically impacted. In this blog post i will be addressing the economic and financial impact of the Indy 500. As well as all the events that go into the Indy 500, such as qualifying, practice, the GP of Indianapolis.

Indy 500 Economics

According to The indy 500 has the greatest economic impact of all sporting events. A professor Mark S. Rosentraub, an accomplished sports economist, and Dean of Cleveland State University, found that the Indy 500, creates an economic impact of $336.6 million annually. This is nearly $100 million more than the Daytona 500. The Indy 500, is only one of the events leading up to the most prestigious race in America. The Indy 500 festival made an impressive $19.7 million in 2013. The Indianapolis Motor Speedway has the most seats of any other sports stadium in North America. This means more people can come, therefore if goods are set at a low price, spectators then will be able to buy for less, but with the amount of people, the speedway will, most likely make a profit. In addition to the festival, pole day, practices, the Indy Lights Series (2nd top series), and the 500 itself, the GP of Indianapolis the race right before the Indy 500. The attendance is less, but still it is another chance for Indycar to promote the race.