The Founder of Lucas Oil Products, Inc., Forrest Lucas died on Saturday at the age of 83.

“We are deeply saddened by the passing of our founder, Forrest Lucas,” Lucas Oil wrote in a statement on social media on Saturday. “Forrest’s boundless drive for Lucas Oil, his generosity and love for his family, friends and community defined his life. While we grieve this tremendous loss, we take comfort in knowing his legacy will continue to inspire our team and all who knew him.”

Lucas, along with his wife Charlotte, started the company in 1989, which manufactures and distributes automotive oils and lubricants.

Lucas Oil has a significant presence in motorsports, owning or sponsoring numerous teams, events, and series, including major names like NASCAR and INDYCAR. In 2006, Lucas Oil paid $122 million for the naming rights to Lucas Oil Stadium, the Indianapolis Colts’ home field. The agreement is set to last until 2026.

The company confirmed his passing on social media, describing him as a visionary and a friend to Pacers Sports and Entertainment.

Lucas, a native of Ramsey, Indiana, a Census-designated place in Harrison County, was born in 1942. Lucas Oil has been a major title sponsor for the The National Hot Rod Association (NHRA) Drag Racing Series for more than two decades, and the NHRA’s track on Indy’s west side, Lucas Oil Raceway, is named in his honor. The NHRA recognized his contributions by presenting him with the Lifetime Achievement Award in 2024.

“We are saddened to hear of the passing of Forrest Lucas,” NHRA said in a statement on social media. “Forrest and the Lucas Oil company have long been deeply rooted in NHRA drag racing. A true visionary in the sport, he will be greatly missed. We send our heartfelt condolences to his family and friends.”