Built in 1876 as a horse racing track, the Mile first held an automobile event in 1903. What we now know as Indy cars first came to the track in 1933, and the tradition of Milwaukee being the next event on the calendar after Indy began in 1947 (the IRL did not race at Milwaukee from 1996-2003). In recent years the track has also hosted NASCAR Nationwide Series and Camping World Truck Series races.
The problems started early in the year when track promoter Claude Napier lost his financial backers, whose money he used to "rent" the track from the Wisconsin State Fair Board (the Mile is on the State Fairgrounds). He managed to strike a deal anyways, in the hopes of picking up a new sponsor along the way.
That has failed to happen, and now the IRL and NASCAR are looking for their sanctioning fees; $1.9 million in NASCAR's case, & an undisclosed sum in the IRL's.
All of the permanent staff at the Mile have been laid off, effective yesterday, & the fate of the track's future as an auto racing venue is now very much in doubt. "I've got a hunch it's over," said Dominic Giuffre, the track's promoter from 1983-1991. "It's too late."