On August 20, 1995, at 1140 eastern standard time, a Beech 65-B80, N8347N was substantially damaged when directional control was lost during the takeoff roll on runway 27 (3580' x 100', turf) at Ace Airpark, Anderson, Indiana. The aircraft veered off the runway and came to a rest upright in an adjacent agricultural field. The commercial pilot and the eleven passengers aboard the aircraft reported no injuries. The 14 CFR Part 91 flight was carrying skydivers in visual meteorological conditions and no flight plan was filed. The pilot reported that the takeoff was normal until the aircraft speed reached 70 - 75 miles per hour when he heard a loud noise from the left side of the aircraft and the aircraft veered to the left. The pilot retarded the engine throttles to idle and applied right rudder control and right wheel brake but was unable to maintain directional control. The left wingtip contacted agricultural crops (corn) bordering the runway causing the aircraft to veer further to the left and skid sideways. Airworthiness inspectors from the FAA Flight Standards District Office (Indianapolis) determined that the wheel assembly on the left main landing gear had broken into two parts. The outer wheel half and the tire separated from the aircraft at a location approximately 500 feet from the start of the takeoff roll and the landing gear axle dug into the turf runway. The aircraft veered to the left and skidded sideways until the aircraft departed the runway and both main landing gear assemblies collapsed. The aircraft came to rest approximately 1100 feet from the departure end of the runway, 75 feet left of runway centerline and heading approximately 165 degrees (magnetic). Further investigation revealed that the outer bearing of the wheel that failed had seized for undetermined reasons and the bolts holding the wheel halves together then failed.