The beautiful Thompson Trophy by sculptor Walter Sinz was 30 inches tall and first presented at the 1930 National Air Races. For the next 20 years, it symbolized the goal for pylon racers and gave the world the most exciting air racing of all time.

An all-out speed race was sponsored by the Thompson Products Company, who later decided to make this an annual event and present an impressive Thompson Trophy, along with a $5,000 prize, to the winner.

In the beginning most of the racing planes were built and owned by individuals who thought flying in the National Air Races the equal to driving a race car in the Indianapolis 500. The practice of businesses sponsoring these planes began in the early 1930's for the purpose of advancing their company's image.

1949 was the last year the National Air Races were held at Hopkins. That year Bill Odom crashed into a home near the airport, killing a mother and her child. These were the first fatalities involving people other than pilots and community reaction to this tragedy brought a halt to air racing in Cleveland. This, however, was not the only reason. Pilots and planes were needed in Korea where the United States had become deeply involved in the war there. In later years air shows would return to Cleveland at the city's Burke Lakefront Airport.

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