The 1/4-mile drag strip was opened in 1964 and run on leased land for the next 30 years by Lee and Fern Nelson and sons Ron and Larry as Polar Dragway. The track has had several names over the years, including Thunder Valley Raceway, Valley Raceway, Big Valley Raceway, and Polar Raceway. In November 1994, the racing operation was purchased from Lee Nelson and incorporated as Top End, Inc., held by a group of businesspeople who loved motorsport. The group included Jack (Randy) Harris, Louie Kirk, John Childs, Jerry Schreiner, Gregg Gunnarson, and Kristen Kinn, and the name was changed to Alaska Raceway Park. Earl Lackey purchased Jerry Schreiner's shares in 1995. Top End completed extensive changes: environmental cleanup, installation of an entrance via Sullivan Road, installation of new bleachers and sound system, and re-roof of all buildings.
