Per FDC 9/5151, all IRL races get the stadium TFR, not just the Indy 500, so the Long Beach race is "covered". However, the TFR is only 3nm radius/3000 AGL, so unless the race is on your airport, you should be able to work around it, and even if it's right next to the airport, if you have a control tower, it should still be possible to fly.
The Class II book to which FRon referred includes the much expanded and stricter TFR's over the really major sporting events like the Super Bowl, Final Four, etc, which not only have TFR's, but also usually flow restrictions and slots for arrival/departure. This ain't one of those.