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WEST DES MOINES, Iowa — Big news is coming for local racings fans. The IndyCar Series and Hy-Vee will hold a press conference Thursday morning to announce “a major sporting event that will be coming” to Iowa.

It is expected the return of IndyCar racing at the Iowa Speedway in Newton will be revealed at Thursday’s event.

Hy-Vee and IndyCar have not confirmed Hy-Vee as a race title sponsor or the return of racing, but there’s a reason series owner Roger Penske, IndyCar star driver Graham Rahal, Hy-Vee CEO Randy Edeker, and Gov. Kim Reynolds will all speak at Hy-Vee headquarters in West Des Moines Thursday.

Hy-Vee has become a big player in the IndyCar series. The midwestern supermarket power joined forces with Rahal-Letterman-Lanigan Racing and sponsors drivers like Rahal and Santino Ferrucci. Ferrucci, in the Hy-Vee 45 car, finished sixth at this year’s Indy 500.