Pete Leikam was a car owner for many years before taking over the reigns of Midwest Speedway in Lincoln in the late 1960s. By the early 1980s, sprint car racing had all but died out when the 360 sprint division was born at Midwest Speedway on May 24, 1981. Leikam continued to run Midwest Speedway until retiring from the racing game following the 1987 season. He was inducted into the Nebraska Auto Racing Hall of Fame in 2003.