1958
Led by Tom Binford, Frank Dickie, Roger Ward and Howard Fieger, 15 Indianapolis area businessmen and racing professionals invested $5,000.00 each to fund the development of what would become Lucas Oil Indianapolis Raceway Park. The group purchased a 267-acre farm about seven miles from the Indianapolis Motor Speedway and developed a multipurpose auto racing facility.
1960
Constructed with assistance from the NHRA, the drag strip was the first of the three courses to be completed, with the facility's first event held on the strip in the fall of 1960.
1961
During the 1960 U.S. Nationals in Detroit, a handshake agreement between Binford and NHRA founder Wally Parks promised that the event would move to Lucas Oil Indianapolis Raceway Park in 1961. The historic three-year pact was signed and sealed under a tree in Detroit Dragway's pits and Lucas Oil Indianapolis Raceway Park eventually became the home of the NHRA's biggest annual event.
1979
The NHRA officially took ownership of Lucas Oil Indianapolis Raceway Park in 1979. For the past 45 years, the NHRA has been the sole owner and operator of Lucas Oil Indianapolis Raceway Park.
1980's
Throughout the 1980s, Lucas Oil Indianapolis Raceway Park underwent its first major renovations since the facility originally opened. In 1983, the original Wally Parks Tower, a four-story tall tower by the start line was constructed and dedicated. In 1988, attention moved to the Oval at IRP where new grandstands, suites, and a tower complex on the front straightaway were built along with the repaving on the oval racing surface.
2001
The NHRA and Lucas Oil Indianapolis Raceway Park constructed a new drag strip racing surface, replacing the strip with a 660-foot concrete pad and laying new asphalt on the remainder of the track and shutdown area.
2011
In January 2011, the track announced a new entitlement sponsorship with Lucas Oil Products and is now named Lucas Oil Indianapolis Raceway Park. Lucas Oil Indianapolis Raceway Park reached another milestone in 2014 by celebrating the 60th Anniversary of the U.S. Nationals as well as the 60th anniversary of the facility in 2021. In 2024, Lucas Oil Products signed a new long-term naming rights deals to keep IRP as Lucas Oil Indianapolis Raceway Park.
2025
Lucas Oil Indianapolis Raceway Park completed the first phase of a multi-phase renovation project targeted on replacing and building new infrastructure to improve the stakeholders experiences while at America's Great Race Place. The first phase of the project started with the demolition of the existing Wally Parks Tower that will be replaced with a more modern tower in it's place. The New Wally Parks Tower opened in time for the 71st Cornwell Quality Tools NHRA U.S. Nationals!