The largest single-day sporting event in the world, the Indianapolis 500 auto race was first run at the Indianapolis Motor Speedway in 1909. Local automobile magnate Carl Fisher financed the construction of the track in 1909, and the initial race held on this 2.5mi oval (then paved with brick) consisted of two laps (5mi). In 1911 Fisher and his partners agreed that 500mi was the ideal distance for a race. The speedway today attracts more than 400,000 avid fans every Memorial Day (last weekend in May).