Bob Fletcher had two passions outside of farming: hunting and auto racing. He collected the Arizona Big 10 and the North America Sheep Grand Slam. He promoted Cobre Tire Company from 1973-1982 through Fletcher Racing Team which competed in Indy car racing at major venues like the Indianapolis 500. Art Pollard, Bobby Unser, Pancho Carter and Lee Kunzman were a few of the well-known drivers who raced for the team. He became a co-owner of Phoenix International Raceway helping foster many improvements to the facility.

The end of the team was given to the fatal accident of Gordon Smiley in the practices of the Indy 500 of 1982. Smiley had the fixed idea that he would make the classification above 200mph. Flatecher and several other veteran drivers warned Smiley of the danger, as he had only entered 7 races in Indycar.

On May 15, 1982, Smiley left the Indianapolis Motor Speedway pits with the aim of winning the pole position for the 66th edition of the 500 Miles (he competed in the 1980 and 1981 editions, where he led for one lap) and be the first driver to overcome 200 miles, reaching 196 on the first qualifying lap. During the second attempt at a fast lap, his car slips away from the rear in turn 3 and Smiley corrects it, but the March #35 loses control and violently crashes into the wall, killing the driver on the spot.