Indy 500 still reigns supreme @ IMS

[Truth Detector]

Indianapolis Economic Impact:

Indy 500: $336,600,000

BY400: $219,500,000

USGP: $170,800,000


Remember that the next time you read an article claiming the BY400 is bigger than the Indy 500.

[Defender]

Perhaps the assorted blithering idiots with access to column or air space should keep that in mind prior to their next stupidity rant.

[Ganassifan]

Where did you get this info? I am not questioning its' validity, I am just curious? And how old?

Do you think that the additional income for the 500 might be due to a three week event vs. a three day event?

[Truth Detector]

Originally posted by Ganassifan
Where did you get this info? I am not questioning its' validity, I am just curious? And how old?

Front page Indianapolis Star 8/1/03

Do you think that the additional income for the 500 might be due to a three week event vs. a three day event?

No doubt that's part of it.

[coachb8t]

That comes up to an estimated $726,900,000 of positives the Indianapolis Motor Speedway brings to the city of Indianapolis and yet for some reason the Star and others have nothing but disdain for the Hulman-George Family. I admire Tony George his ability to not lash back at the local media. I know if it were me, I would have a hard time letting the star into the track, let alone sell their papers inside it.

[indyracefan]

...amazingly quiet.

[indysteve]

Here's a link to the article. Look in the "Sports Bucks" box under the photo.

Fans of big 3 races as colorful as drivers

[Indy Red]

I know this is a little dated but I found it interesting anyway:

TOP 10 PROFESSIONAL SPORTS EVENTS IN AMERICA - 2000

Economic Event Location Impact *

Indianapolis 500 Indianapolis Motor Speedway $336.6 million Indianapolis, Ind.

Daytona 500 Daytona International Speedway $240 million Daytona Beach, Fla.

Brickyard 400 Indianapolis Motor Speedway $219.5 million Indianapolis, Ind.

Super Bowl XXXIV Georgia Dome $215 million Atlanta, Ga.

United States Indianapolis Motor Speedway $170.8 million Grand Prix Indianapolis, Ind.

DIRECTV 500 Texas Motor Speedway $165.2 million Fort Worth, Texas

Goracing.com 500 Bristol Motor Speedway $119.6 million Bristol, Tenn.

Food City 500 Bristol Motor Speedway $80.5 million Bristol, Tenn.

Kentucky Derby Churchill Downs $60 million Louisville, Ky.

Winston 500 Talladega Superspeedway $42.4 million Talladega, Ala.


One reason for the Indianapolis 500's immense economic impact is its status
as the world's largest attended single-day sporting event, attracting an
estimated Race Day crowd of 400,000 spectators. The Brickyard and SAP United
States Grand Prix are second and third in this category, respectively.
Including practice and qualifying days, more than a million race fans walk
through the Speedway's gates annually.

State and local governments receive significant revenues from the three
races. The State of Indiana receives more than $25 million and local
governments almost $10 million annually. Of those amounts, the Formula One
race will be responsible for adding $6 million to state coffers and $2.6
million to units of government in Marion County, according to the study.
"These gains for the local economy and for governments in Indiana from the
Formula One race, the Indianapolis 500 and the Brickyard 400 are even more
significant since none of the costs for the building of new facilities at
the Speedway requires public investments," Rosentraub said. "As a result,
all of the economic benefits identified in this analysis are real
increments, resulting in no opportunity costs or other costs for the state
of Indiana, local governments or taxpayers."

In addition, the capital construction project undertaken by IMS from
1998-2000 to both prepare for the Formula One event and to generally upgrade
the track's facilities added $80.9 million to the regional economy. This was
a one-time, non-recurring investment.

In the study, Rosentraub adjusted figures to remove the spending by
residents of the region who would attend other recreational events in the
region if the races were not held.

Rosentraub is a nationally recognized expert on the economics and politics
of professional sports teams and their relationships with cities, the
financing of sports facilities, the financing, organization and delivery of
urban services, and economic development issues.

[oldtimer]

To even be having this argument is a disgrace, and an open admission that the Indy 500 is less than it was before 1994.

I have always been a fan of THE race at Indy, and I hate being a fan of ONE OF THE races.

It's just a pitiful situation, and I refuse to attend or acknowledge the other races. IPS junk was the final straw for me. I'll always attend the 500, but it isn't as special as it used to be (and I wouldn't be caught dead at the IPS race).

Tony is going to have to grub his money from someone else.

[Eric]

But its the money from the other two races financing the IRL.

[Truth Detector]

oldtimer, you sound like you need more fiber in your diet.

[hdolan]

The facts do not surprise me...I would expect this to continue for a while...unfortunately we are now in the era of TV...in the long run whatever garners the greater ratings numbers will have the largest econonmic impact, not to the area, but to the Speedway...

Some here at times chide me for looking backwards, but, to overlook the value of TV ratings in this day and age is a huge mistake...one I'm sure that TG is aware of...

BTW: The Derby is about 2 minutes in length...that comes out to 30 mil per minute...pretty good...

[elio]

"Tony George his ability to not lash back at the local media. I know if it were me, I would have a hard time letting the star into the track, let alone sell their papers inside it."

Tony knows better, the media makes the news..

[BackHomeMBD]

You mean there is another race at IMS besides the Indy 500? When did this start?...LOL!!!!

[Truth Detector]

"to overlook the value of TV ratings in this day and age is a huge mistake"

TV ratings have virtually no impact on the local economy.