Luyendyk brought home the team's first win in their second race together, winning the Dura-Lube 200 at Phoenix International Raceway. Later that season Luyendyk would set two qualifying records at the Indianapolis 500. Luyendyk would run 236.986 mph (381.392 km/h) over the four lap run,^[1] during this run he also set the one-lap record of 237.498-mph.^[2] This run would not put Luyendyk on the pole position however, as the run was on the second day of time trials. Luyendyk's attempt on the first day of qualifications was disallowed when he failed technical inspection although it was good enough for the pole. His day two attempt was faster than his day one attempt. Ultimately Luyendyk was knocked out of the race in an accident.

The following year, good fortunes would continue to the race into the race as Luyendyk would win the 1997 Indianapolis 500 for Treadway Racing from the pole; new teammate Scott Goodyear finished second, making it a 1-2 sweep for Treadway Racing. Luyendyk would follow up by winning the True Value 500 at Texas Motor Speedway a fortnight later. The race is best remembered for the scoring controversy^[3] that would lead to USAC being removed from sanctioning duties by the IRL.^[4] Goodyear's more consistent results would put him one spot ahead of Luyendyk in the final season standings for 1997 despite not collecting a win.

For 1998 Goodyear left Treadway Racing, leaving Luyendyk as the sole driver. Luyendyk won the final race of the season at Las Vegas Motor Speedway before retiring from full-time racing.

Sam Schmidt was signed to replace Luyendyk for 1999 season. He would deliver the team a win at Las Vegas as Luyendyk had the prior season. This late season win combined with finishing 5th in the final season standings gave the team high hopes for 2000. An opportunity to achieve this success would not occur as a devastating pre-season testing injury^[5] at Walt Disney World Speedway would leave Schmidt paralyzed. The accident would leave Robby McGehee who had been signed to partner Schmidt as the team's sole driver. McGehee would only last one season.

Felipe Giaffone would take the team's seat in 2001, bringing with him personal sponsorship from Hollywood Cigarettes. Ross & Diana Hubbard also joined the team as partners to Fred Treadway. Giaffone and the Hubbards would also last only one season.

For 2002 Treadway's son Rick Treadway drove for the team for the first half of the season with Will Langhorne competing select events at the season's end. As teams from the CART World Series began to enter the IRL costs began to rise and squeeze out small teams such as Treadway Racing. The 2002 Chevy 500 at Texas Motor Speedway was Treadway Racing's final race in the Indy Racing League's top series.

Full-Time Drivers

•   Felipe Giaffone (2001)
•   Scott Goodyear (1997)
•   Arie Luyendyk (1996-'98)
•   Robby McGehee (2000)
•   Sam Schmidt (1999)
•   Rick Treadway (2002)

Part-Time/Indy-Only Drivers

•   Raul Boesel (2000)
•   Will Langhorne (2002)
•   Jason Leffler (2000)
•   Arie Luyendyk (1999, 2001-'02)

(key) (Results in bold indicate pole position; results in italics indicate fastest lap)

¹ The 1999 VisionAire 500K at Charlotte was cancelled after 79 laps due to spectator fatalities.