Josef Newgarden became a member of an exclusive group of drivers who won the Indianapolis 500 in consecutive years. On Sunday, he secured his second consecutive victory, joining only five others who have achieved this feat. In addition to the prestigious title, Newgarden also received a record-breaking winner’s prize of $4.288 million, the largest in the race’s history.
Newgarden’s victory was sealed with an exciting last-lap pass over Pato O’Ward. This impressive maneuver not only earned him a substantial cash prize, but also solidified his status as a back-to-back winner. Adding to his financial success, Newgarden had already received $3.66 million for his win in last year’s race. With these combined earnings, he now boasts a substantial fortune for his remarkable achievements.
A significant portion of this year’s prize money came from a bonus provided by Borg-Warner specifically for achieving consecutive season victories. This bonus added an additional $440,000 to the original payout, further increasing Newgarden’s financial reward. It is worth noting that the bonus structure will reset for the next season, starting at $20,000 and increasing that amount each year until claimed.
While Newgarden enjoys his success, O’Ward, who finished in second place, received a consolation prize just over $1 million. Despite not achieving his dream victory, this monetary reward offers some solace to the young driver. His disappointment is understandable, considering how close he came to reaching his ultimate goal.
Overall, an incredible $18,456,000 was distributed among the 33 participants of the Indianapolis 500. This record purse exemplifies the importance and grandeur of the event. Mark Miles, president and CEO of Penske Entertainment, acknowledged the race’s status as the largest in the world and expressed his satisfaction with the substantial cash prize. Despite the weather challenges, the Month of May witnessed an exciting competition with packed stands and intense action on the track. Presenting this remarkable purse serves as a fitting conclusion to an extraordinary month.
Fans who endured the rain delay and stayed late into Sunday afternoon were rewarded with an unforgettable race. During the event, there were an impressive 49 official lead changes over 200 laps. The excitement peaked on the final lap, when Newgarden made a decisive pass to secure his generous payout. This thrilling display of skill and determination captivated the audience and provided a fitting climax to the race.
