[3] The Ringling Brothers Circus had established their winter quarters in Sarasota, Florida in 1927, with a large amount of help by Victor Sabattini (1916–2010), an insurance executive, who later became the president and chairman of the board.

In addition to visits by Florida tourists, the Circus Hall of Fame received national exposure.

Although up to 80,000 tourists visited the Circus Hall of Fame each year, by the late 1970s it was unprofitable and the owners prepared to close the museum.

In 1981 a group of citizens from Peru, Indiana, learned that the effects of the Circus Hall of Fame were for sale.

Interested in preserving the circus artifacts and concerned that they might be auctioned off separately, Indiana residents, businesses and the state government contributed to the purchase of the entire collection to bring it to the former Wallace property in Peru.