BorgWarner, the company that sponsors the trophy for the Indy 500, has been increasing the prize money by $20,000 each year since 1995. This means that any driver who wins the race two years in a row gets more money each time.
Only one driver has managed to do this so far. Helio Castroneves won the race in 2001 and 2002, earning the increased prize money.
Since the first Indy 500 in 1911, only four other drivers have won the race in consecutive years. They are Wilbur Shaw, Mauri Rose, Bill Vukovich, and Al Unser Sr.
The president and CEO of BorgWarner, Frédéric Lissalde, said they are excited about the Indy 500 every year. They are happy to offer Josef Newgarden a bigger prize this year if he wins the race for the second time in a row.
To understand how big the prize is for Newgarden, let’s look back. In 1962, the total prize money for all 33 cars in the race was $426,152. It wasn’t until 1985 that the winner’s earnings surpassed what Newgarden could win this year.
Last year, Newgarden won $3.666 million after his thrilling last-lap victory. He beat Marcus Ericsson, who was very close to winning the BorgWarner jackpot of $420,000.
If Newgarden wins again this year, his face will be sculpted and added to the Borg-Warner Trophy, which is a big honor. He will also receive a smaller version of the trophy called the “Baby Borg.”
If Newgarden doesn’t win this year, the prize money will be saved for next year’s race. It will be increased by $20,000, making the jackpot even bigger.
