Indy is back on track

The race is estimated to generate about $60 million a year for the Queensland economy, and it is regarded by the United States-based Champ Car organisation as the 'jewel in its crown.'

While the Champ Cars previously held top billing they now share equal status with the Aussie-bred V8 Supercars.

While the Champ cars are purebred, state of the art racing machines that scream through the streets of Surfers Paradise at speeds of close to 300km/h. The V8s are not far behind in speed and thunder through one of the toughest overtaking tracks on the motoring calendar.

For all the latest coverage on Indy this weekend, go to www.goldcoast.com.au

The traditional V8 rivals; Ford and Holden; command huge armies of followers that descend on the Coast each year to witness their heroes battle, it's ours on the demanding street circuit.

The event is held in late October each year (18-27 October, 2007), providing organisers with a huge logistical challenge, to erect a 4.2km track through the streets of Surfers Paradise.

The heart of the holiday capital is transformed into a motoring mecca which boasts not only the Champ Cars and V8 Supercars but also drag races, Carrera Cup (Porshces), V8 utes and a bevy of other motoring attractions.

And if you can’t get here then you can join the estimated half a billion television viewers that tune in to watch the motoring extravaganza each year.

But it hasn’t always been smooth driving for the race that winds through the streets of Surfers Paradise and boasts the best scenic backdrop of almost any motor race in the world.

When the event was established in 1991, Queensland’s political leaders were sceptical of its long-term future and when it hit the skids in 1998, losing $8 million, it took a courageous Queensland Government to come forward with a $10 million a year funding grant to keep it afloat.

Now, to complement the racing schedule, scores of off-track events are held, including a Brazilian street parade and the Indy ball, which attracts 800 heavy hitters.

Indy chairman terry Mackenroth says the event’s future is secure after negotiations took place recently to extend the contract with Champ Car bosses to 2012.

“It’s the pre-eminent major event in Queensland and we want to keep it that way,” he said.

“I think the success of Indy is very much a reflection of what can happen when a go-ahead city like the Gold Coast embraces it with such enthusiasm.”

Will you be watching the Indy race from your lounge?

View great photos of the 2008 Bartercard Miss Indy finalists