IRL Announces New Revenue Sharing Plan, Bigger Indy 500 Purse
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Barnhart Says New Revenue Distribution
Plan Helps Ensure Stability In IRL |
IRL officials yesterday officially announced a "restructured revenue distribution plan" that includes a 25% purse increase for the Indianapolis 500 and "ensures the owner of each car that runs the full 16-race season a minimum $1.2[M] payout," according to Steve Ballard of the INDIANAPOLIS STAR. The program, which IRL President & COO Brian Barnhart "compared ... to the revenue sharing common in other sports leagues" could fund up to 24 cars, an increase from the 17 that ran the full '07 season. Barnhart said that the increased revenue "helps ensure stability and makes the series more attractive to potential competitors and sponsors." The Indy 500 purse will increase to at least $13.4M, up from this year's record high of $10.67M, and the winner will earn $2.5M, up 42% from the '04 record high of $1.76M. A full-season team "is guaranteed a minimum $300,000 for qualifying at Indy even if the car is bumped from the field." The series champion will still get a $1M bonus, and teams will "compete at each race for bonuses of $35,000 for first place down to $10,000 for fifth" (INDIANAPOLIS STAR, 10/3).
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