Powered by a turbocharged Toyota inline-4 engine, the car was campaigned in the IMSA Camel GT series by Dan Gurney's Toyota-sponsored AAR team from 1991 through to the end of 1993.

[3] The Eagle MkIII won 21 out of the 27 races in which it was entered and is considered one of the most successful and technologically advanced designs of the IMSA GTP era — "a car that proved so overwhelmingly dominant that the class for which it was created has now been assigned to history", according to Racer magazine.

"[3] It was clear to the team that a clean-sheet design was needed to significantly advance the chassis and provide the best platform for competing against the Nissan and Jaguar factory entries.

"[5] One of the primary flaws with the HF89/90 had been a persistent lack of front grip; combined with overwhelming amounts of rear downforce, this created an intractably imbalanced car with a significant tendency to understeer.

This was a break from the tradition of GTP and Group C cars, which had almost exclusively adhered to a single underbody with one set of tunnels running from front to rear.

By applying a high level of boost to the 2.1-litre stock-block engine,[5] Toyota Racing Development's shop in Torrance, California was able to wring more than 800 horsepower out of what was the smallest-displacement powerplant used in the GTP series at that point.

Though a pit stop penalty dropped Fangio to seventh when the checkered flag fell, he and the MkIII led most of the race by almost a minute, showing dominating speed throughout — an early portent of what was to come.

The 1992 IMSA Camel GT season opened with one of the most competitive fields ever assembled in the series, and it promised to be a pitched championship battle.

The #98 of P. J. Jones, Rocky Moran and Mark Dismore finished a solid fourth, while the #99 of Juan Manuel Fangio II, Andy Wallace and Kenny Acheson suffered mechanical maladies that left it more than 100 laps down at the race's conclusion.

[3] Without Nissan and Jaguar, there was little competition for the AAR/Toyota team and the writing was on the wall for the GTP formula — the 1993 IMSA Camel GT season was to be the last for the budget-busting prototypes.