Monday 15th August 1927

Backed by a group of Detroit investors, Eddie Rickenbacker – America’s most successful fighter ace in World War I – purchased the Indianapolis Speedway for $700,000. Once the Speedway operations were under control, Rickenbacker looked for additional opportunities for entrepreneurship, including in sales for the Cadillac division of General Motors, and for various aircraft manufacturers and airlines. After the 500-mile (800 km) race in 1941, Rickenbacker closed the Speedway due to World War II. Among other things, holding the race would have been a waste of valuable gasoline and other fuels. In 1945, Rickenbacker sold the racetrack to the businessman Anton Hulman, Jr.