The Canadian Motorsport Hall of Fame was founded in 1993 by Lee Abrahamson and Gary Magwood assisted by Len Coates to celebrate the accomplishments and contributions of the Canadian motorsport communities. It was originally based at Exhibition Place, sharing the same facility as Canada's Sports Hall of Fame until 1997 when it relocated to Bay Street. In 2001, the Canadian Motorsport Hall of Fame began relocating to various temporary locations before deciding to become a virtual online museum today. Their annual induction ceremonies take place at the Metro Toronto Convention Centre in downtown Toronto.