Josef Newgarden's $3.6 million payout is part of Indy 500's largest purse in history

For the second consecutive year, the record for the Indianapolis 500 purse was broken.

This year's purse of $17,021,500 topped the 2022 payout, which was the largest ever, of $16,000,200 spread across the 33-car field. Josef Newgarden, the winner of the 2023 race, earned $3.666 million. Marcus Ericsson, who took second on Sunday, brought home $3.1 million when he won last year's race.

The average payout for the IndyCar drivers this year was $500,600. That figure exceeded 2022's average of $485,000. Prior to last year, the largest payout for The Greatest Spectacle in Racing was $14.4 million in 2008.

Ericsson, who led the race before Newgarden took the lead on the final lap, earned $1.043 million, exceeding the take-home prize for the 2022 second-place finisher.

"This is the greatest race in the world, and it was an especially monumental Month of May featuring packed grandstands and intense on-track action," said Mark Miles, Penske Entertainment President and CEO. "Now, we have the best end card possible for the 107th Running of the Indianapolis 500: a record-breaking purse for the history books."

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The 2021 total payout was $8,854,565, which was the second-smallest since the turn of the century. The smallest purse ($7,502,500) came the year prior when no fans were in the stands.

Sunday's race attendance at Indianapolis Motor Speedway was more than 330,000. It was the second-largest Indy 500 crowd in more than two decades.

The race's purse consisted of IMS and NTT IndyCar Series awards, plus other designated and special awards, according to a release. Purse awards are presented annually at the Victory Celebration.

2023 Indy 500 payout winnings, prize money

(Order of finish, starting position, name, engine manufacturer, entrant, prize amount)

1. (17) Josef Newgarden, Chevrolet, Team Penske, $3,666,000

2. (10) Marcus Ericsson, Honda, Chip Ganassi Racing, $1,043,000

3. (4) Santino Ferrucci, Chevrolet, A.J. Foyt Enterprises, $481,800

4. (1) Alex Palou, Honda, Chip Ganassi Racing, $801,500

5. (7) Alexander Rossi, Chevrolet, Arrow McLaren, $574,000

6. (6) Scott Dixon, Honda, Chip Ganassi Racing, $582,000

7. (8) Takuma Sato, Honda, Chip Ganassi Racing, $217,300

8. (16) Conor Daly, Chevrolet, Ed Carpenter Racing, $512,000

9. (21) Colton Herta, Honda, Andretti Autosports w/ Curb-Agajanian, $506,500

10. (2) Rinus VeeKay, Chevrolet, Ed Carpenter Racing, $556,500

11. (18) Ryan Hunter-Reay, Chevrolet, Dreyer & Reinbold Racing, $145,500

12. (27) Callum Ilott, Chevrolet, Juncos Hollinger Racing, $495,500

13. (25) Devlin DeFrancesco, Honda, Andretti Steinbrenner Autosport, $482,000

14. (14) Scott McLaughlin, Chevrolet, Team Penske, $485,000

15. (20) Helio Castroneves, Honda, Meyer Shank Racing, $481,500

16. (9) Tony Kanaan, Chevrolet, Arrow McLaren, $105,000

17. (24) Marco Andretti, Honda, Andretti Herta w/ Marcis & Curb-Agajanian, $102,000

18. (32) Jack Harvey, Honda, Rahal Letterman Lanigan Racing, $472,000

19. (30) Christian Lundgaard, Honda, Rahal Letterman Lanigan Racing, $467,500

20. (13) Ed Carpenter, Chevrolet, Ed Carpenter Racing, $102,000

21. (11) Benjamin Pederson, Chevrolet, A.J. Foyt Enterprises, $215,300

22. (33) Graham Rahal, Chevrolet, Dreyer & Reinbold Racing, $105,500

23. (12) Will Power, Chevrolet, Team Penske, $488,000

24. (5) Pato O'Ward, Chevrolet, Arrow McLaren, $516,500

25. (22) Simon Pagenaud, Honda, Meyer Shank Racing, $465,500

26. (26) Agustin Canapino, Chevrolet, Juncos Hollinger Racing, $156,300

27. (3) Felix Rosenqvist, Chevrolet, Arrow McLaren, $278,300

28. (15) Kyle Kirkwood, Honda, Andretti Autosport, $465,500

29. (23) David Malukas, Honda, Dale Coyne Racing with HMD, $462,000

30. (19) Romain Grosjean, Honda, Andretti Autosport, $462,000

31. (31) Sting Ray Robb, Honda, Dale Coyne Racing with RWR, $463,000

32. (28) R.C. Enerson, Chevrolet, Abel Motorsports, $103,000

33. (29) Katherine Legge, Honda, Rahal Letterman Lanigan Racing, $102,000