"Well this is biggest race ever to be held that we can see anywhere based on the size of the purse," Huset's Speedway owner Chuck Brennan said.
And it'll be the first race held at Huset's Speedway in more than two years.
It's a 40-lap, 410 sprint car a-main race.
The winner will have the choice of getting the track, which is for sale for $9.45 million, or take a $3.6 million cash buyout.
Race teams need to pay a non refundable $200,000 entry fee to get in.
"Well I would think very few drivers or race teams would have that kind of entry money around. 200-thousand dollars is a lot of money. But what about the people who have been interested in the track, we've had six buyers come forward to try and buy the track and many more that are interested. Sponsors, team owners, businesses, gamblers all these folks, just think of it, they could grab one of these drivers and do a separate side deal with them. Even if they pay their entry fee for $200,000 and then gave the driver another 2, 3, 4, hundred thousand on top of that, think of the return they could get on this," Brennan said.
Brennan says there has to be at least 18 drivers entered for the race to happen.
"We're going to give it right up to a week before the race so they'll be able to enter right up to a week before the race at the $200,000 rate. At that time we're going to call it one way or another the second we get 18 drivers here we're going to put tickets on sale, sponsorships, suites, VIP packages, we're' going to light it up," Brennan said.
The race is scheduled the Tuesday after the Knoxville Nationals.
"It's right after the Knoxville Nationals, which is the largest gathering of sprint cars in the country. They're expecting more than one hundred 410 sprint cars and they're just going to be 4-5 hours down the road so we're doing it at the perfect time. We've been in talks with the World of Outlaws, they've helped us come up with the date. We've made it so if there's a rainout on Tuesday, we could make it up Wednesday or Thursday," Brennan said.
And if it happens, the largest payout in racing history should bring a lot of national attention to the track that first opened in 1954.
"And the largest purse we could find in the country, is $2.6 million for the Indy 500 and this blows that away. Even they take the $3.6 million, it's a million dollars more than that," Brennan said.