IMS Museum aiming to raise $100 million by auctioning most valuable race cars
The Indianapolis Motor Speedway Museum is selling its most valuable cars in partnership with auction house RM Sotheby's and hopes to raise more than $100,000,000 from the release.
A total of 11 cars have been pulled from the museum, which serves as an independent entity that lives on the property owned by Roger Penske but was not included in the purchase of IMS by Penske Entertainment in 2020. The majority of the lot represent donated cars and acquisitions of incredibly rare and valuable vehicles from series other than IndyCar and lack Indianapolis 500 provenance.
Based on the anticipated auction prices listed for the 11 cars, more than $106,000,000 could be generated if the big numbers are achieved for the first two and median prices are reached for the last eight offerings.
1954 Mercedes-Benz W196 R Streamliner Formula 1 car (north of $52,000,000)
1964 Le Mans-winning Ferrari 250 LM (north of $26,000,000)
1966 Ford GT40 Mk II ($8,000,000-$11,000,000)
1957 Chevrolet Corvette SS Project XP-64 ($5,000,000-$7,000,000)
1908 Mercedes 17.3-Liter 150 HP 'Brookland' Semmering Rennwagen ($7,000,000-$9,000,000)
1907 Itala 120 HP Works Racing Car ($2,000,000-$3,000,000)
1930 Bugatti Type 35B Grand Prix ($1,000,000-$1,800,000)
1991 Benetton B191 Formula 1 ($600,000-$1,000,000)
1965 Spirit of America Sonic I ($500,000-$1,000,000)
1911 Mercedes 22/40 HP 'Colonial' Double Phaeton ($150,000-$250,000)
1911 Laurin & Klement Type S2 Sportswagen ($100,000-$150,000).
According to the museum, which closed in November of 2023 and re-opens in April after seeking to raise and invest $89,000,000 into a renovation of the property, the building that opened its doors in 1956 and its board of directors will put the auction income to good use as a means to secure the museum's future.
'After much deliberation, the Indianapolis Motor Speedway Museum decided to de-access and sell nine vehicles from our collection that do not match our mission,' the museum's Kara Kovert Pray told RACER. 'We are also selling two additional vehicles previously approved for de-accession in 2021. The de-accession and sale of artifacts is something we have been doing since 2017, and these are the last of the vehicles not directly connected to the mission of the Indianapolis Motor Speedway Museum.'
If there's a downside of selling some of the cars headed to RM Sotheby's, it's in the loss of variety among the Indy 500-centric machines that dominate the museum. With so many of the same cars displayed year after year, the intermingling of iconic Formula 1 cars, sports cars, land speed record vehicles and early automobiles brought variety to an otherwise and often predictable array of Indy 500 showpieces.
Assuming the nine-figure sum is reached, the museum could put some of the funds towards acquiring new cars to backfill the outgoing 11.
'The proceeds from the sale will allow us to create a robust endowment that will ensure the Museum's long-term viability,' Pray continued. 'This endowment will allow us to acquire additional cars and artifacts, restore and care for our vast collection, and solidify the Museum as a cultural destination for years to come. These funds are not going towards the capital campaign funding the IMS Museum's complete renovation.'
The first car to go under the auction hammer is the 1954 Mercedes-Benz W196 R in Germany on Feb. 1, followed by the 1964 Ferrari 250 LM in Paris on Feb. 4-5, and the rest are set for auction on Feb. 27-28 in Miami.
Story originally appeared on Racer
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Indianapolis Star
an hour ago
- Indianapolis Star
Where 'playing more offense' makes sense in IndyCar, why Zak Brown's other suggestions don't
Lost in the emotion and vitriol that has emanated from Zak Brown's comments to select assembled media at the Detroit Grand Prix is this: The McLaren Racing CEO's believes Penske Entertainment needs to take bigger swings, and in some cases, risks, in the way in which it steers the IndyCar ship. His ideas — ranging from suggesting IndyCar launch its seasons on the Saturday of the Daytona 500, to challenging the sport's owners to spend big on new events in major markets (particularly on the east coast) and suggesting that less may be more on IndyCar's grid — are no doubt out of the box, and they range from problematic (making some racing media choose between covering Daytona or St. Pete is a losing battle) to grandiose and cruel. One thing they also do: Challenge a status quo that many in the IndyCar paddock believe publicly and privately haven't been pushed enough in the five-plus years since Roger Penske took ownership. It's not to say things haven't changed since 2019. Not only does the schedule have notable updates, but the Indianapolis 500 is back booming again, the grid is meaningfully larger and IndyCar appears to be with a network willing to pull out all the stops and push the needle to help it reach heights not seen in decades. But to many in the paddock, Brown included, the sport continues to operate on the defensive. In some ways, it's a product of a pre-Penske past where the sport was stuck in neutral and is simultaneously trying to play catch-up while also attempting to innovate and break the mold. Next year's Arlington Grand Prix is the latest Penske Entertainment project aimed at trying something big and new and different (at least for this racing series). Past projects like IndyCar's long-awaited video game project (now dormant), a concert-filled doubleheader at Iowa Speedway (no headlining concerts any more), a downtown Nashville street race (which has moved to an oval 40 minutes outside downtown) and the launch of hybrid technology (which was many times delayed, had a new engine formula axed and which has negatively impacted the racing product) lay in its wake. The Penske Corp.'s shift of the Detroit area street race from Belle Isle to downtown Detroit alleviated a longtime rift with a segment of the community concerned of its impact on the park, and it's made the event more accessible to the general public and a hotbed for Penske hospitality customers, but many drivers haven't been quiet as to their thoughts of racing on the "Mickey Mouse circuit." Racing at The Thermal Club, too, has proved a lightning rod topic, and the resurrection of IndyCar racing at the Milwaukee Mile is an endeavor too early in its reboot to suggest whether it'll have long-term legs or not. 'We need to play more offense, and sometimes we play too much defense,' Brown said. ''Cost savings, cost savings, cost savings.' At some point, you've gotta say, 'I want to spend more to make more.' 'There's a difference between sustaining the sport and covering some losses and picking a number, let's say $100 million, and going and doing something like what (F1 owners Liberty Media) did around Las Vegas. Even though that race isn't profitable today, it brought in a ton of new sponsors and got you a more lucrative TV contract.' Unlike so many team bosses in the sport, Brown comes at what he does with a marketing-first brain. In another life, Brown would've taken the IndyCar CEO job offered to him in May 2013 by then-Hulman & Co. CEO Mark Miles, who's now the president and CEO of Penske Entertainment, but instead, his burgeoning sports marketing firm took him to England and, in 2018, he was tapped to take over the reins of McLaren Racing as its CEO. In less than seven years, he transformed an F1 team with a largely blank racecar experiencing some of its worst results in its decades' long history into World Constructors' Champions. Approaching the halfway point of this season, his two drivers are locked into a head-to-head battle for the World Drivers' Championship while McLaren the runaway favorites to win the Constructors' title again. Both in business as well as sport, Brown views winning as the primary target at all costs, for better or worse, and that goal, particularly when pursued by a program in flux, comes with the suggestion of wholesale changes. When it comes to IndyCar, along with spending sizable sums of Penske's money and taking risks on new races in a couple major cities across the country, Brown's vision for change is a slightly smaller, more exclusive sport filled with more high-energy events and high-powered cars exactly at a time where demand ideally will be rising. So what do some of Browns ideas look like in reality? Let's dive in. In short, finding a way to shrink IndyCar's grid — the idea of Brown's that far-and-away drew the most ire — is the toughest to imagine happening anytime soon, at least at the levels he suggested. It's not something Brown hasn't suggested before, but it comes less than a year after Penske Entertainment handed out 25 charters to the 10 teams competing last year in IndyCar. Though the fine print of the charter remains largely shrouded in secrecy, we know teams were given a max of three per team, leading to Chip Ganassi Racing dropping two cars from its fleet. New for 2025, IndyCar welcomed two unchartered full-time entries to the grid from Prema Racing, making for 27 cars on the grid at non-Indy 500 races — said to be the max field size. Should any more cars show up, the event would see bumping to get into the field for the first time outside the 500 in recent memory. As the grid sits, the easiest way to trim the grid would be for Prema to purchase one or two charters from current holders, slimming the grid back down to 25. But Brown said he'd like to see things scaled back further, suggesting grid sizes from 20 to 24 could make for a more competitive grid top to bottom and lower the supply at a time when demand is rising. In his view, the charter system solidified the status quo — basically allowing for all cars that had been on the grid for several years (minus Ganassi's fourth and fifth) while allowing for the addition of Prema that had been agreed to before the charter system was launched. 'Just a passenger hitting the wall': Robert Shwartzman's Indy 500 fairly tale ends Would it have been tough to tell Dale Coyne, Brad Hollinger and Ricardo Juncos or the powers that be at Rahal Letterman Lanigan Racing that one of their cars wouldn't be granted a charter come 2025? Undoubtedly, and I'm not sure how you make those distinctions, either. It's no secret Coyne has for several years now had at least one (and last year both) its cars mired at or near the bottom of the Entrants Championship, but they now have a driver sitting 16th in points who was 10th before a pair of back-to-back DNFs. RLL has two cars on the outside looking in of the Leaders Circle chase for the time being — a tough look for a team that occasionally can fight for poles and wins and has been around the sport for decades. Both JHR cars are near the bottom, but both have also finished in the top-10 this year, and Arrow McLaren's Nolan Siegel is still in his first full season in IndyCar and 12 months ago was a serious Indy NXT title contender. So far this year, 24 of the 27 full-time cars have logged top-15 finishes, with 22 of them having finished in the top 10 at least once (all but both Prema cars, RLL's two cars near the bottom and Coyne's Jacob Abel). Across the entire 2024 season, all 27 cars nabbed top 15s, and 23 finished in the top 10 — 21 of those cars having secured at least two top 10s. Two-thirds of the field finished in the top 5 at least once, and 14 finished on the podium. Knowing that Penske Entertainment ultimately is the owner of all 25 IndyCar charters, I imagine there's some (or likely multiple) mechanisms with which the series owner could yank them back, but I don't know how much benefit you're getting from telling Dale Coyne, one of your longest-tenured team owners, that his No. 51 car no longer has a guaranteed spot each weekend. A move like that very well might put Coyne's other car in a tenuous spot, and if you try doing that to multiple low-performing two-car teams, you could be without a couple cars who with the right circumstances can legitimately run inside the top 10 a couple times a year. Yes, those cars aren't on par with the likes most cars at Penske, Ganassi, Andretti and McLaren, but those four teams aren't your entire series either. And outside them, the other 15 (with few exceptions) can finish just about anywhere on any given weekend. 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At the same time, I think Brown's assertion that decisions on IndyCar's next car and technical regulations need to be made by chasing cutting-edge technology, more speed and horsepower and lighter-weight machines — rather than what's easiest to stomach for teams in the middle or back of the pack — are spot on. And maybe if you do so, we see a bit of a shakeup to the grid anyways. After going more than 15 years without a wholesale change to the car on track, IndyCar can't afford both technologically and optically to make another relatively minor update to what has become a Frankenstein-like car compared to the one Dan Wheldon tested and helped refine in 2011. And the major implication is this: Don't cut corners for the sake of cost-savings. I hate to say it, because I know this isn't going to be an easy stretch for several teams on the grid (even with the friendly loan plan Miles said in March the series is working on to help teams pay for the cars), but this needs to be a car that makes a statement. Use some parts from this car's construction if you can and it makes sense — in other words, don't just pursue change for change's sake. But the series needs to map out a car that best fits this state of IndyCar, and see where the chips fall. Insider: IndyCar planning to introduce new car in 2027, Roger Penske says While better integrating the aero screen, the hybrid (if it indeed is staying in some form) and recent safety updates to IndyCar's new machine, this car needs to be light, sleek, powerful and loud. It needs to be something this series can rally and market around in a similar vein to how NASCAR's NextGen car and IMSA's GTP machines drew increased intrigue in their early years. It's not going to be the peak of technological engineering, ala Formula 1, but it needs to make some noise both literally and figuratively. And that's going to cost some money. And if that's a dealbreaker to some teams, then it's an unfortunate fact the way in which new chapters in racing series spell different phases for teams up and down the grid. It's not uncommon in other series, and it shouldn't be something Penske Entertainment should shy away from. As Brown said, 'We need to get to the point where everyone's chasing the best, as opposed to working toward the lowest common denominator because you're trying to keep the back of the grid in business.' It's enough to not get uber-exclusive and outright boot teams out of the series like Brown suggested, but it should also at the same time be a privilege and a sign of both passion and financial stability to have a couple cars running in IndyCar. Brown's third major pillar is perhaps too soon to suggest breaking ground on, in part because we need to see how a project in the same vein, the Arlington Grand Prix, works next March. The new event, which Miles said he expects to be as big and culturally impactful as the Miami Grand Prix — if not bigger — brings the muscle, marketing savvy, local knowhow and the ticketholder registries of the Dallas Cowboys and the Texas Rangers to help IndyCar put on perhaps its biggest event outside the Indy 500 in 2026. It's been said to have been in the works for some time, and for a series desperately in need of more spring races, it adds yet another high-energy street race to the pre-Indy 500 section that already includes St. Pete and Long Beach and hopefully next year will also include Mexico City. The 'race around a stadium' model is by no means new to American open-wheel racing, but having the might of two of Texas' biggest pro sports franchises behind it is a major plus. Insider: What are 3 things to change about IndyCar? Here are our ideas And if next year's debut is as much of a success as it's been pumped up to be, Penske Entertainment needs to shop this around to other pro sports franchises around the country. Target No. 1? MetLife Stadium — the home of the NFL's New York Giants and Jets — and the Meadowlands Sports Complex. Though not a simple project to land — after all, you've got to convince two NFL franchises to join you in this endeavor to really get it to pop — it would be a major step for a series that is adamant it is and will continue to be wholly a North American series, but doesn't race anywhere close to the continent's biggest media market. And if it's something that the NFL franchises would only be willing to minimally support in Year 1 so as to feel out its potential before going all in, it should be a risk Penske Entertainment — which up until this point has shied away from racing in Mexico City on a track rental because it was devoid a local partner and which has emphasized in recent years its willingness to do big things, but mainly with other partners in the mix — should go all in on. As Brown said, massive undertakings like a blowout race under the shadows of the New York City skyline, might not be a profitable endeavor on its own, but it would offer an opportunity to elevate the series' brand as a whole. 'I think we need to be in bigger cities. 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As Graham Rahal and so many others in the paddock have said before, in an age where it's trying to position itself as a growing giant in the motorsports realm, IndyCar should not be racing in places that make it appear unimportant. So as not to completely upend the series' balance of road, street and oval events, I think the series should first look toward natural terrain road course opportunities to swap into. Sonoma fell off the calendar in place of Laguna Seca seven years ago. If Penske Entertainment was better positioned to partner with the track and market the hell out of a return to the venue that's just north of San Francisco, could it have more success than previously? I've been told by multiple parties in the paddock that it's pertinent that IndyCar maintain a presence in the greater central California coast area, which makes giving Sonoma another chance something to consider. Insider: Will Fox, IndyCar find 'rapid growth' it sought after Indy 500? Detroit Grand Prix was a start Could you partner with IMSA on its Six Hour event at Watkins Glen and run Saturday, so as not to completely upend IMSA's six-hour race on Sunday, or find another slot on the calendar that would make sense for the upstate New York track to hold another major race weekend? Could you make a return to Homestead in the spring to give the oval track and the community another race weekend to rally around as it's primed to occasionally host NASCAR season finales and potential other fall playoff rounds in the future? Could you reconsider a return to Richmond, even though Miles vehemently poo-pooed the idea last fall? All these involve returns to tracks that fell off IndyCar's calendar for a reason, but Penske Entertainment clearly isn't afraid to put its marketing and promotional might behind events it needs to find success. 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And if IndyCar is to make a serious jump in the next five years, it can't just sit around and wait for others to believe in the dream if Penske Entertainment isn't out on the frontlines trying to will it to happen.
Indianapolis Star
2 hours ago
- Indianapolis Star
Take in the sights that make Indianapolis Motor Speedway a racing icon
Grace Hollars Michelle Pemberton Grace Smith Christine Tannous Team Penske driver Josef Newgarden (2) climbs out of his car on the yard of bricks after winning the 107th running of the Indianapolis 500 on Sunday, May 28, 2023, at Indianapolis Motor Speedway. Jenna Watson/IndyStar Racing fans sit in the stands watching the race Sunday, May 26, 2024, ahead of the 108th running of the Indianapolis 500 at Indianapolis Motor Speedway. Grace Hollars/IndyStar Team Penske driver Josef Newgarden celebrates on the victory podium after winning the Indy 500 on Sunday, May 26, 2024, at Indianapolis Motor Speedway. Michelle Pemberton/IndyStar The U.S. Air ForceThunderbirds perform a flyover as Chip Ganassi Racing driver Tony Kanaan (1) and wife Lauren Bohlander listen to the national anthem Sunday, May 29, 2022, prior to the start of the 106th running of the Indianapolis 500 at Indianapolis Motor Speedway. Mykal McEldowney/IndyStar The field takes the green flag Sunday, May 28, 2023, to start the 107th running of the Indianapolis 500 at the Indianapolis Motor Speedway in Indianapolis. Luke Johnson/IndyStar NASCAR Cup Series driver Tyler Reddick (45) qualifies Saturday, Aug. 12, 2023, for the NASCAR Cup Series Verizon 200 at the Brickyard at Indianapolis Motor Speedway. Adam Cairns/Indianapolis Star The cars race down the tack in the last 20 laps Sunday, May 26, 2024, during the 108th running of the Indianapolis 500 at Indianapolis Motor Speedway. Brett Phelps/IndyStar Actors Austin Butler, left, and Jodie Comer wave the green flag on Sunday, May 26, 2024, during the 108th running of the Indianapolis 500 at Indianapolis Motor Speedway. Michelle Pemberton/IndyStar Scott Bogardus of New York adjusts his headphones while watching the Pennzoil 250 from the turn one grandstands, Saturday, July 20, 2024, at Indianapolis Motor Speedway. Grace Smith/IndyStar Fans walk under the pagoda Friday, Aug. 11, 2023, during practice for the Gallagher Grand Prix at Indianapolis Motor Speedway. Adam Cairns/Indianapolis Star Drivers navigate pit road in preparation for stage two racing during the 30th running of the Brickyard 400, Sunday, July 21, 2024, at Indianapolis Motor Speedway. Doug McSchooler/for IndyStar Fans walk behind pit road Saturday, Aug. 12, 2023, during qualifying for the NASCAR Cup Series Verizon 200 at the Brickyard at Indianapolis Motor Speedway. Adam Cairns/Indianapolis Star Meyer Shank Racing driver Helio Castroneves (06) and team climb the fence near the yard of bricks Sunday, May 30, 2021, during the 105th running of the Indianapolis 500 at Indianapolis Motor Speedway. Mykal McEldowney/IndyStar The skyline of Indianapolis is visible as cars enter turn two during the Brickyard 400, Sunday, July 21, 2024, at Indianapolis Motor Speedway. Christine Tannous/IndyStar Spectators walk under the grandstands during the Brickyard 400, Sunday, July 21, 2024, at Indianapolis Motor Speedway. Brett Phelps/IndyStar A video board on the pagoda warns of a weather delay Saturday, Aug. 12, 2023, ahead of a day full of NASCAR and IndyCar events at Indianapolis Motor Speedway. Adam Cairns/Indianapolis Star Fireworks go off behind the pagoda Sunday, May 26, 2024, ahead of the 108th running of the Indianapolis 500 at Indianapolis Motor Speedway. Tyler Ward/For IndyStar Drivers pile up in turn one during the first overtime during the Brickyard 400, Sunday, July 21, 2024, at Indianapolis Motor Speedway. John Chilton/For IndyStar A rainbow appears following a brief shower Saturday, Aug. 12, 2023, during the NASCAR Xfinity Series Pennzoil 150 at Indianapolis Motor Speedway. Adam Cairns/Indianapolis Star NASCAR Cup Series drivers Tyler Reddick (45) and Denny Hamlin (11) lead the field around the first turn after taking the green flag on Sunday, July 21, 2024, during the Brickyard 400 at Indianapolis Motor Speedway. Adam Cairns/Columbus Dispatch Doug McSchooler/For IndyStar A look Monday, March 31, 2025, at the newly renovated Indianapolis Motor Speedway Museum. Mykal McEldowney/IndyStar Racing fans seek shelter during a rain delay Saturday, Aug. 12, 2023, during the NASCAR Xfinity Series Pennzoil 150 at the Indianapolis Motor Speedway in Indianapolis. Grace Hollars/IndyStar The sun rises on Saturday, May 28, 2022, ahead of the 106th running of the Indianapolis 500 at Indianapolis Motor Speedway. Grace Hollars/IndyStar
Yahoo
2 hours ago
- Yahoo
Madrid's new street circuit to debut in 2026, replacing Imola on F1 schedule
Red Bull driver Max Verstappen of the Netherlands crosses the finish line to win the Italian Emilia Romagna Formula One Grand Prix, at the Enzo and Dino Ferrari racetrack in Imola, Italy, Sunday, May 18, 2025. (AP Photo/Luca Bruno, Pool) Williams driver Carlos Sainz of Spain steers his car during a demonstration on a section of the future Formula 1 street circuit in Madrid, Spain, Saturday, June 7, 2025. (AP Photo/Manu Fernandez) Williams driver Carlos Sainz of Spain steers his car during a demonstration on a section of the future Formula 1 street circuit in Madrid, Spain, Saturday, June 7, 2025. (AP Photo/Manu Fernandez) Red Bull driver Max Verstappen of the Netherlands crosses the finish line to win the Italian Emilia Romagna Formula One Grand Prix, at the Enzo and Dino Ferrari racetrack in Imola, Italy, Sunday, May 18, 2025. (AP Photo/Luca Bruno, Pool) Williams driver Carlos Sainz of Spain steers his car during a demonstration on a section of the future Formula 1 street circuit in Madrid, Spain, Saturday, June 7, 2025. (AP Photo/Manu Fernandez) LONDON (AP) — A new street circuit in Madrid will make its debut on the Formula 1 schedule in September of next year, replacing the Emilia-Romagna Grand Prix at Imola. F1 announced its schedule for 2026 on Tuesday, setting the first Grand Prix at the new Madring track in the Spanish capital for Sept. 13. Advertisement Spain gets two races for 2026 as Barcelona stays on the calendar for the final year of its contract. It faces an uncertain future after that. F1 has previously said Madrid's race will be known as the Spanish Grand Prix. The new schedule doesn't specify a new name for Barcelona's race, which has been known as the Spanish Grand Prix since 1991. Spain's second race means Italy drops back to having one Grand Prix as Imola leaves the schedule. The historic track, a favorite with drivers, returned to schedule in 2020 as a late addition amid the COVID-19 pandemic and has hosted five races since. Its contract was up this year. The 2026 F1 season will start March 6-8 in Melbourne with the Australian Grand Prix and concluded with the Abu Dhabi Grand Prix from Dec. 4-6. ___ AP auto racing:
