The 1984 Dallas Grand Prix was intended to showcase Dallas as a “world-class city.” The Formula One race took place on July 8, 1984, on a temporary street circuit in Fair Park, despite organizational problems, 100 °F (38 °C) heat, and poor track conditions that included pavement failures. Co-organizer Larry Waldrop later stated to D Magazine that the July date was chosen to avoid rain, but organizers underestimated the impact of the Texas summer heat on the event and the track surface.
Financial difficulties and safety concerns led to the cancellation of the 1985 race. Race organizer Dallas Grand Prix of Texas Inc., founded by Waldrop, Don Walker, and Buddy Boren, had a contract with the Formula One Constructors' Association (FOCA) to hold five races in Dallas. Walker bought out Boren’s share in 1983 and sidelined Waldrop, subsequently clashing with co-organizers and spending lavishly. Walker could not reach an agreement with FOCA or Dallas officials regarding a 1985 race date, and the company failed to pay the required front money. Walker withdrew from Can-Am racing, was removed from the boards of two banks due to alleged financial irregularities, and began selling his collection of sports cars. Both Walker and Dallas Grand Prix of Texas Inc. faced investigations by the FBI and the Securities and Exchange Commission, accused of illegally diverting funds from the company and real estate ventures for Walker’s personal expenses. Waldrop attempted to negotiate with FOCA leader Bernie Ecclestone to revive the event, but was unsuccessful. Dallas Grand Prix of Texas Inc. filed for bankruptcy in March 1985, ending the possibility of another Formula One race at Fair Park.
Opposition from residents of the nearby Fair Park neighborhood also contributed to the cancellation of future Formula One races. Although the Dallas Black Chamber of Commerce believed the event would benefit some local Black-owned businesses, the organization and Dallas city councilwoman Diane Ragsdale stated they were excluded from the planning process. Ragsdale told The New York Times that the failure to consult with neighbors and address noise concerns reflected a “historic pattern of total disrespect for the neighborhood.” In 1984, Ragsdale and the Dallas Black Chamber of Commerce filed a lawsuit against Walker and Dallas Grand Prix of Texas Inc.
The event was revived in 1988 as a Trans-Am Series race at Fair Park, after Boren reached an agreement with Ragsdale and the Dallas Black Chamber of Commerce to donate a portion of the race receipts to charity. Continued complaints from Fair Park residents prompted organizers to seek a new venue. In 1989, the race moved to Addison Airport, utilizing a 2.53 km (1.57 mi) circuit built on public streets and taxiways. The event disrupted airport operations for weeks, leading to complaints from airport businesses and management to the town and the FAA in 1990. After the 1991 race, an agreement was reached to end the race at the airport after 1992, but the event was cancelled that year due to financial losses. In 1993, the race relocated to a street circuit around Reunion Arena.