Prize Money For the Indianapolis 500
Prize money for the Indianapolis 500 is calculated according to various complex formulas. These factors include the driver’s final placement, laps led and completed, and sponsor income. The purse for the Indy 500 has topped $2 million in the past. However, a recent pandemic has reduced ticket sales and purse money may not reach this level again for some time. Ticket sales are expected to increase in 2022, resulting in an increased purse of $2 million.
Indy 500 purse expected to reach $13 million in 2022
In recent years, the purse has nearly doubled, courtesy of the efforts of Penske. It was only slightly higher than the purse awarded at the next Indianapolis 500, scheduled for 2022. And while prize money has been dropping since the onset of the COVID-19 pandemic, it’s slowly creeping up again. In 2022, the purse is expected to be in the neighborhood of $10 million.
Foreign drivers have long been popular at the Indianapolis Motor Speedway, which is a part of the FIA World Championship of Drivers. In fact, the first six winners were non-Americans. However, in recent years, more foreign drivers have become competitive. While only four female drivers won the race in 2010, there are many others who have made it to the big time. It is not surprising that foreign drivers are increasingly making their presence felt in the race.
IndyCar prize money is a hot topic, with official figures scarce. Typical first-place prizes are estimated to be around $300,000. In the Indy 500, the winner can win as much as $2 million. But while the purse is increasing, teams are often the recipients of the majority of the prize money. The Leader’s Circle Program provides extra rewards to the top 22 drivers.
Drivers earn various percentages of purse
The Indianapolis 500 purse is split among the racers in a number of ways. The winning driver receives a large portion of the prize money, while all the other drivers earn between 15 and 20% of the total purse. In the 1950s, the winner’s share was more than 30%, but has fallen in recent years. Last year, Takuma Sato earned $1,370,500 for winning the race. Although this is the lowest amount since 2003, it is still within the 15-20% range.
The purse amount for the Indianapolis 500 is not disclosed until the race is over. The purse for the winning driver in the 2022 race is expected to be $2.3 million USD. The prize money for the 2021 race was $1.3 million USD, while that of the 2022 race is not yet final. However, past winners of the race have taken home more than a million dollars. However, the 2022 winner is expected to make $2.3 million USD, which is approximately PS1 million GBP.
The winner’s check is usually more than 20% of the total purse. Before 1982, it was as much as 30%, and was often higher than 40%. However, the amount of money awarded to the winner has steadily declined since then. In 1911, Ray Harroun received 45% of the purse. Last year, Sato took home a total of 18.3% of the purse. The same goes for Simon Pagenaud, who earned 20.4% of the purse in 2019.
Teams split purse evenly
Since 1924, every driver in the Indy 500 field has taken home a check. But the actual payout amount can be significantly less than what each driver earns because of expenses to field an entry, which can sometimes exceed $2 million for teams that start from scratch. One year, in 2018, Team Penske driver Conor Daly told ESPN that it would take at least a top five finish for a team to come out ahead in net prize money. For his effort, Andretti earned $286,305, while teammate Stefan Wilson took home less than $1 million.
Although the actual purse isn’t released until after the race, it’s generally safe to assume that it will be higher than last year’s $8.85 million. While this amount isn’t huge, recent history shows that the winner will take home at least six figures. However, the purse may be reduced by COVID-19 this year, which impacted the purse in 2020 and 2021. But the purse for 2022 is expected to grow by $10 million.
The prize money in the Indianapolis 500 is allocated according to a complicated formula. It includes factors like final place, laps led, and sponsorship income. The purse was nearly $2 million during the 2010 and 2011 races, but it is unlikely to reach that high for quite some time. However, it could still increase to $2 million in 2022 if ticket sales continue to rise. So, how do the teams split the purse equally?