Thomas Wyatt Wilson Binford (April 6, 1924 – January 14, 1999) was an Indianapolis-based

entrepreneur Entrepreneurship is the creation or extraction of economic value. With this definition, entrepreneurship is viewed as change, generally entailing risk beyond what is normally encountered in starting a business, which may include other values t ...

and philanthropist. One of Indianapolis' most influential men, Thomas W. Binford was a pioneer, visionary and

civil rights Civil and political rights are a class of rights that protect individuals' freedom from infringement by governments, social organizations, and private individuals. They ensure one's entitlement to participate in the civil and political life o ...

leader. He participated in civic, philanthropic, cultural and political aspects of the city and state and was valued for his sensitivity, wise counsel, personal and financial support, and sincerity. In addition to his many personal interests, Binford spearheaded a group to buy the Indiana Pacers basketball team in 1975 and served as its president and general manager for one year. From 1974-1995, Binford served as the Chief Steward of the

Indianapolis 500 The Indianapolis 500, formally known as the Indianapolis 500-Mile Race, and commonly called the Indy 500, is an annual automobile race held at Indianapolis Motor Speedway (IMS) in Speedway, Indiana, United States, an enclave suburb of Indi ...

, presiding over its transition from

United States Auto Club The United States Auto Club (USAC) is one of the sanctioning bodies of auto racing in the United States. From 1956 to 1979, USAC sanctioned the United States National Championship, and from 1956 to 1997 the organization sanctioned the Indianapol ...

Indy Racing League The IndyCar Series, currently known as the NTT IndyCar Series under sponsorship, is the highest class of regional North American open-wheel single-seater formula racing cars in the United States, which has been conducted under the auspices o ...

governance.

Biography

Binford attended

Princeton University Princeton University is a private research university in Princeton, New Jersey. Founded in 1746 in Elizabeth as the College of New Jersey, Princeton is the fourth-oldest institution of higher education in the United States and one of the ...

, where he was a member of

Phi Beta Kappa The Phi Beta Kappa Society () is the oldest academic honor society in the United States, and the most prestigious, due in part to its long history and academic selectivity. Phi Beta Kappa aims to promote and advocate excellence in the liberal ...

. He was interim president of

DePauw University DePauw University is a private liberal arts university in Greencastle, Indiana. It has an enrollment of 1,972 students. The school has a Methodist heritage and was originally known as Indiana Asbury University. DePauw is a member of both the ...

in 1975-76. Although he did not have any prior banking experience, Binford was elected chairman and

chief executive officer A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especial ...

of Indiana National Corporation, the holding company for the largest bank in the state of Indiana, from 1976 to 1981, turning the company around after the company lost money during the 1973–75 recession. He was instrumental in bringing the Colts to Indianapolis. His greatest contribution was creating an environment in the city of Indianapolis where issues of civil rights and race could be discussed productively and without rancor. A street in northeastern Indianapolis was renamed Binford Boulevard in his honor. Crown Hill Cemetery - 2016-10-21 - Mike Steele 23

Crown Hill Cemetery - 2016-10-21 - Mike Steele 23

Binford began serving as chief steward during the

1973 Indianapolis 500 The 57th 500 Mile International Sweepstakes was held at the Indianapolis Motor Speedway in Speedway, Indiana, on Wednesday, May 30, 1973. The race was held over three days due to rain and suffered two major accidents. Three competitors - two dri ...

. His most notable races includes the

1981 Indianapolis 500 The 65th Indianapolis 500 was held at the Indianapolis Motor Speedway in Speedway, Indiana on Sunday, May 24, 1981. The race is widely considered one of the most controversial races in Indy history. Bobby Unser took the checkered flag as the win ...

and the

1995 Indianapolis 500 The 79th Indianapolis 500 was held at the Indianapolis Motor Speedway in Speedway, Indiana on Sunday, May 28, 1995. Sanctioned by USAC, it was part of the 1995 CART PPG Indy Car World Series season. Jacques Villeneuve won in his second start. A ...

. Binford penalized

Bobby Unser Robert William Unser (February 20, 1934 – May 2, 2021) was an American automobile racer. At his induction into the Motorsports Hall of Fame of America in 1994, he had the fourth most IndyCar Series wins at 35 (behind his brother Al, A. J. F ...

one lap for illegal passes under a caution in 1981. His penalty was overruled by a USAC appeals board 5 months later. In 1995 Binford penalized Jacques Villeneuve early in the race, for a restart violation & later gave a stop-and-go penalty for

Scott Goodyear Scott Goodyear (born December 20, 1959) is a Canadian former race car driver. He ran the Indy Racing League and Champ Car series during his career from 1987, winning the Michigan 500 in 1992 and 1994. Goodyear qualified for eleven runnings of th ...

after Goodyear passed the pace-car on the final restart. The 1995 race was his last one as chief steward before retiring in 1996. Binford suffered from a cerebral hemorrhage while he was at his office in Indianapolis and later died at Methodist Hospital. He is buried at

Crown Hill Cemetery Crown Hill Cemetery is a historic rural cemetery located at 700 West 38th Street in Indianapolis, Marion County, Indiana. The privately owned cemetery was established in 1863 at Strawberry Hill, whose summit was renamed "The Crown", a high point ...

in Indianapolis.

References

External links

Biography, The Auto Channel DePauw University profile, 1975 DePauw University article, 2005
1924 births 1999 deaths Princeton University alumni Auto racing executives Presidents of DePauw University American bankers American sports businesspeople American motorsport people American philanthropists National Basketball Association executives Businesspeople from Indianapolis Burials at Crown Hill Cemetery 20th-century American businesspeople Home Improvement (TV series) Park Tudor School alumni {{philanthropist-stub