After slow expansion for nearly a decade, the facility was bought out by Phoenix businessman Malcolm Bricklin in 1973 under the General Vehicle brand.

Since ISC's purchase, the facility has undergone two major reconfigurations: one in 2011 that altered the track's dogleg, and one in 2018 that changed the location of the start-finish line.

[13] On July 10, 1963, The Arizona Republic's Frank Gianelli reported that a group formed by businessman Richard Hogue acquired a 320-acre (130 ha) plot of land originally used to grow cotton in Estrella Mountains.

On the same day, the Maricopa County Board of Supervisors passed a permit to begin PIR construction, in the process effectively causing the Fair's shutdown.

[21] By the end of the year, with paving complete, the facility was approved for SCCA, USAC, and National Hot Rod Association (NHRA) events.

[27][28] PIR received mixed initial reception; although its amenities were praised, some spectators complained about a hidden 50-cent (adjusted for inflation, $5) grandstand fee alongside visibility problems caused by light poles.

[32] Initially, PIR struggled with attendance, causing the facility to cancel international events in 1964 due to cost issues.

However, the facility still faced heavy traffic issues in Bobby Ball Memorial event that took place in the same month,[37] partially causing the cancellation of a USAC stock car race in early 1965.

[44][45] In August 1965, the dragstrip oversaw its second fatality when 17-year-old Phil Miner lost control of his car and crashed at approximately 160 miles per hour (260 km/h).

[49] On February 27, 1972, United States Air Force captain Bruce Helfert died in a sports car crash on the facility's road course.

[53] Two days later, Nancy filed an injunction order against Redkey and Huff for "fail[ing] to return... the corporate's properties, papers and records."

She also revealed that she fired the duo as they spent "extravagant amounts of money for travel, hotels, entertainment, telephone calls, salaries, etc.

[57][58] In March, Agajanian confirmed discussions about removing PIR's backstretch dogleg from its oval track, stating that the corner was "dangerous as hell".

[59] Three months later, the decision was confirmed by Jerry Raskin, PIR's public relations official, with the backstretch becoming a straight line.

[62] A year later, Phoenix hotel businessman Charlie Alexander signed a three-year lease from Nancy to become the racing director of PIR.

[64][65] On December 6, 1972, the Arizona Republic reported that Nancy Hogue sold PIR to Newport Beach, California, businessman Paul O'Shea.

[63][68] Kopp also announced plans for US$30,000 worth of renovations, including the expansion of permanent seating capacity to 16,000, the construction of a new pit road, and other miscellaneous amenity improvements.

[94] After another investment of CA$1.2 million from the New Brunswick government despite previous statements,[95] on September 22, Premier Hatfield stated that Bricklin Canada would not receive anymore funding until the completion of a viability review of the company.

[96] Three days later, Bricklin Canada entered into receivership, with Liberal politician John W. Turnbull stating that "the company for all intents and purposes is bankrupt".

[106] With the purchase, the track's name was reverted to "Phoenix International Raceway",[107] with the group promising renovations to existing grandstands, garages, and media centers[106] alongside a wider variety of events.

[112] A year later, Wood alongside California businessman Warner W. Hodgdon bought the facility from Fletcher within the "seven-figure" price range.

[120] Two days later, the buyers were revealed to be farmer Emmett "Buddy" Jobe and accounting firm owner Patrick Johnson,[121] with ownership officially transferring to the duo in September.

[122] With the purchase, the duo promised an increase in permanent seating capacity from 10,400 to "between 20,000 and 25,000" alongside starting negotiations to obtain a NASCAR Busch Grand National Series race.

[127][128] While plans were initiated to both repair and expand seating capacity,[129] in June, another fire affected the frontstretch grandstands; this time due to a blowtorch construction accident.

[139] In 1997, Arizona Governor Fife Symington approved state funding for a five-lane bridge to be built over the Gila River that addressed long-lasting traffic concerns.

[143] The purchase was confirmed in a press conference that same day, with ISC paying $46 million for the facility; Jobe remained as the president of PIR.

[168] The repave was completed by October of that year for testing,[169] and it received positive reactions from numerous drivers, including Tony Stewart and Carl Edwards.

[182] The following year, ISM and the speedway ended their naming rights relationship despite a 10-year deal, with the track renaming itself to "Phoenix Raceway".

[183] In November 2022, Giese stepped down as president of Phoenix Raceway to run operations for the Chicago Street Course,[184][185] with Bell Bank executive Latasha Causey taking over the position.

[195] After 1986, the Jimmy Bryan Memorial was held and organized by CART until 1996, when control of the event was turned over to the Indy Racing League (IRL) in the midst of the CART–IRL split.