This news is a little racy.

The Indianapolis Motor Speedway Museum announced an $89 million campaign, called "The Stories Behind the Spectacle," to overhaul and transform the 47-year-old museum. In addition to the major renovation, it also plans to create an endowment to support future investments.

The museum said its goal for the project is to "reimagine our space to display vehicles and objects better, protect our collection, and inspire the next generation of engineers, technicians, drivers, and fans."

A rendering of planned “Winners Gallery” that will feature winning Indy 500 cars and the famed Borg-Warner Trophy. | Rendering via IMS Museum

Plans for the transformation of the nearly 40,000-sqft museum will include a fully remodeled interior with a new mezzanine level and separate exhibit spaces, along with an educational area. The museum will also offer visitors:

Seven permanent and three rotating immersive experiences
The opportunity to get up close to some of the world’s most unique + valuable racing artifacts on a behind-the-scenes tour
The sensation of being in an IndyCar Series car
Education on the tools and equipment of the racing trade by competing in a mock pit stop

This will be the museum's first major renovation in nearly 40 years since it opened at 4750 W. 16th St. The renovation will also include extensive mechanical and air system upgrades.

A rendering of planned “Gasoline Alley” gallery that will display the evolution of the Speedway, which will include cars, artifacts, audio, and visual elements. | Rendering via IMS Museum

The museum is expected to temporarily close for the project starting in October. Then in November, the entire museum will close until April 2025. The revamped experience will debut ahead of the 109th running of the Indianapolis 500.

The fundraising campaign has raised $46 million for the nonprofit so far. If you'd like to support the campaign, you can make a one-time donation, a pledge commitment, or a legacy gift.