The track is as big as the facility will allow it to be. The facility is designed for basketball and events. Not a racetrack. I live in Indy and I laughed when this event was announced because the track couldn't be much bigger than an 1/8th due to the construction of the facility. The bottom level seating is only removable up to a few rows and the rest is permanent. This doesn't allow for a good construction of track.
To note my prior post: Right town, Right time, wrong facility. I have no idea what the contractual situation is with Lucas Oil, but that would be the place to have it. It is large enough it could rival the chili bowl, but we can dream.
If they do this again I suggest using a format similar to speedway bikes. A series of 4 car 4 lap heats that award points and work down to a final race. Fewer cars on track should equal fewer yellows