[5][6][7] Thanks in part to efforts from a grassroots soccer organization known as the Brickyard Battalion, on January 16, 2013, the NASL announced that an Indianapolis expansion team owned by Ersal Ozdemir, CEO of Keystone Group LLC, would join the league in 2014.

The name and club colors were officially revealed to the public on April 25, 2013, during a ceremony held at Indianapolis' Soldiers' and Sailors' Monument.

[11][12] The team made its NASL regular-season debut on April 12, 2014, in a 1–1 draw against the Carolina Railhawks at home in front of 11,048 fans at Carroll Stadium.

[23] On November 16, 2021, Indy Eleven named Mark Lowry as the team's new head coach and fourth in club history.

Subsequently, Indy Eleven released a statement claiming, "We are planning on being a finalist for the next round of MLS expansion opportunities.

[29] Greg Stremlaw reiterated after Charlotte was accepted to MLS in December 2019, as the league's 30th team, that Indy Eleven is still committed to their bid and believes further expansion will occur.

Stremlaw stated, "I think we have a very strong application" and claimed that the ownership group and the bid will stick to the process that they have followed throughout the expansion talks.

[31] On April 25, 2024, Indianapolis mayor Joe Hogsett announced that he had been speaking with MLS commissioner Don Garber about bringing an expansion team to the city.

[38] Indy Eleven won the Great Lakes Division in an undefeated 10–0–2 season and advanced to the playoffs, where they fell to eventual finalists Minnesota Aurora FC 2–1 in the quarter-finals.

[41] The campaign included a league-record 16–0 victory against St. Charles FC to clinch the division, avenging Indy Eleven's only loss during the season.

[45] In June 2024, former Indy Eleven player Hal Hershfelt was called up as an alternate to the United States National Team's squad for the 2024 Summer Olympics in France.

The name "Eleven" does not reference the eleven players who take to the field representing the club, but pays homage to Indiana's 11th Regiment Indiana Infantry in the American Civil War, while the navy colored checkered background is a nod to both Indianapolis' auto-racing culture and the Brickyard Battalion supporters group.

[55] The club announced a sponsorship deal with Ford on January 16, 2024, that includes the auto company serving as the front shirt sponsor beginning in the 2024 season.

The two clubs met again in a series of friendlies the following two seasons, as well as the third round of the 2016 U.S. Open Cup, where Indy defeated Louisville by a score of 2–1.

The arrival of the Eleven to the United Soccer League in 2018 resulted in the two becoming divisional rivals, and was given the unusual title of "Louisville-Indianapolis Proximity Association Football Contest", or "LIPAFC" during the season by both clubs on social media.

Ersal Ozdemir stated that is "the opportunity to create a vibrant community that will attract individuals and families from near and far to live, work and play".

[63] On April 8, 2019, the Indiana House Ways and Means Committee unanimously voted to allow Indy Eleven to negotiate a stadium regardless of whether the team is accepted into the MLS or not.

Greg Stremlaw noted that the stadium will not be smaller than 12,000 seats and "will be built to ensure we can properly accommodate the fan base associated with leading the USL Championship league, but also be able to expand to all MLS specifications if and as needed".

The site in southwest downtown Indianapolis was formerly the location of the Diamond Chain company and was acquired by Ozdemir's Keystone Group, which will handle development of the complex.