BorgWarner Raises Stakes for Back-to-Back Indianapolis 500 Win with $360,000 Rolling Jackpot

Rhea-AI Summary

BorgWarner has announced a rolling jackpot of $360,000 for the next back-to-back winner of the Indianapolis 500, increasing the prize by $20,000 each year. Established in 1995, the jackpot has only been won once, by Helio Castroneves in 2002. The 2020 race is set for Aug. 23, where reigning champion Simon Pagenaud will compete for the jackpot. If he is victorious, the jackpot resets to $20,000. Winners receive their likeness on the Borg-Warner Trophy and a miniature version, known as the Baby Borg.

Positive

• The jackpot promotion enhances BorgWarner's brand visibility and engagement in motorsport.
• BorgWarner demonstrates ongoing commitment to the Indianapolis 500, strengthening its market presence.

Negative

• None.

INDIANAPOLIS, Aug. 11, 2020 /PRNewswire/ -- BorgWarner is, once again, adding excitement to Victory Circle with its rolling jackpot, now totaling $360,000. Each year, the company sweetens the pot by adding $20,000, with the lump sum being up for grabs by the next driver who achieves back-to-back Indianapolis 500 wins. Established by BorgWarner in 1995 as a way to amplify its involvement with the classic event, the prize money has only been claimed once – by Helio Castroneves in 2002 for his back-to-back victories.

"BorgWarner has a long history with this prestigious motorsport event; from awarding the Borg-Warner Trophy to being the official turbocharger supplier of the race, the Indianapolis 500 is deep-seated within our company," said Frédéric Lissalde, President and CEO, BorgWarner Inc. "The rolling jackpot that BorgWarner increases each year adds even more excitement to this legendary race."

Back-to-back wins have been scarce in the history of the Indianapolis 500. In fact, since the inception of the race in 1911, only five lucky drivers have achieved this feat: Wilbur Shaw (1939-1940), Mauri Rose (1947-1948), Bill Vukovich (1953-1954), Al Unser (1970-1971) and most recently, Castroneves (2001-2002). No driver has ever clinched three straight victories.

The 2020 race is scheduled to be held on Sunday, Aug. 23 at the Indianapolis Motor Speedway where the reigning champion, Simon Pagenaud, will have the chance to claim the jackpot. If Pagenaud does not end up in Victory Circle, the $360,000 will carry over to the 2021 race with an additional $20,000 added by BorgWarner, a leader in clean and efficient propulsion systems. If Pagenaud is the victor, the rolling jackpot will start over at $20,000 next year.

Beyond the potential of winning $360,000, this year's winner will have their likeness permanently affixed to The Borg-Warner Trophy, which is currently adorned with the faces of the previous Indy 500 winners. Additionally, at a later date, the winner will be presented with a miniature version of the coveted Borg-Warner Trophy, known as the BorgWarner Championship Driver's Trophy® or "Baby Borg" to keep for themselves.

About the BorgWarner Championship Driver's Trophy
A one-of-a-kind replica of the Borg-Warner Trophy, the BorgWarner Championship Driver's Trophy is awarded each year to the winner of the Indianapolis 500. The sterling silver trophy is 14 inches high, weighs 5 pounds and rests on a beveled black marble base. The base is inscribed with the winner's name and year of victory, and includes a hand-crafted, bas relief sterling silver image of the winner, a duplicate of the image affixed to the full-sized Borg-Warner Trophy. BorgWarner established the driver's trophy in 1988 to provide the driver with a personal keepsake of their victory.

About The Borg-Warner Trophy
The Borg-Warner Trophy features the sterling silver image of every Indianapolis 500 winner dating back to Ray Harroun in 1911. Made of sterling silver, weighing 110 pounds and standing 5 feet, 4-3/4 inches tall, the trophy originally cost $10,000 and is currently valued at $3.5 million. The Borg-Warner Trophy stays on permanent display at the Indianapolis Motor Speedway Museum.

About BorgWarner
BorgWarner Inc. (NYSE: BWA) is a global product leader in clean and efficient technology solutions for combustion, hybrid and electric vehicles. With manufacturing and technical facilities in 67 locations in 19 countries, the company employs approximately 29,000 worldwide. For more information, please visit borgwarner.com.

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SOURCE BorgWarner

FAQ

What is the value of the BorgWarner rolling jackpot for the Indianapolis 500 in 2020?

The rolling jackpot totals $360,000 for the back-to-back winner of the Indianapolis 500.

When is the Indianapolis 500 race scheduled for 2020?

The Indianapolis 500 race is scheduled for Aug. 23, 2020.

Who was the only driver to win the BorgWarner jackpot previously?

Helio Castroneves is the only driver to have won the BorgWarner jackpot in 2002.

What happens to the BorgWarner jackpot if the current champion does not win?

If the reigning champion does not win, the jackpot will carry over to 2021 with an additional $20,000 added.