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BorgWarner's Rolling Jackpot Reaches $420,000, Marcus Ericsson Can Claim with Back-to-Back Indianapolis 500 Win

BorgWarner Logo (PRNewsfoto/BorgWarner)

News provided by

BorgWarner

May 15, 2023, 10:00 ET

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  • BorgWarner increased jackpot award by $20,000 this year
  • Jackpot claimed only once since in 2002
  • Only five drivers have won the Indy 500 back-to-back

AUBURN HILLS, Mich., May 15, 2023 /PRNewswire/ -- The BorgWarner rolling jackpot continues to grow, currently totaling $420,000, (4,305,924 krona) awaiting the moment a driver wins the Indianapolis 500 two years in a row to claim the prize. This year, Marcus Ericsson, the 2022 winner of the race, is in position to receive the jackpot if he wins for a second consecutive year.

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Marcus Ericsson is in position to receive the BorgWarner rolling jackpot if he wins the Indianapolis 500 for a second consecutive year, totaling $420,000 or 4,305,924 Swedish krona.
Marcus Ericsson is in position to receive the BorgWarner rolling jackpot if he wins the Indianapolis 500 for a second consecutive year, totaling $420,000 or 4,305,924 Swedish krona.

Established by BorgWarner in 1995, the rolling jackpot increases by $20,000 each year, raising the stakes for drivers hoping to find themselves in Victory Circle. The prize money has only been claimed by one driver – Helio Castroneves of Brazil in 2002 for his consecutive victories. Since the first race in 1911, the only other drivers who have had the honor of winning the Indy 500 back-to-back include Wilbur Shaw (1939-1940), Mauri Rose (1947-1948), Bill Vukovich (1953-1954) and Al Unser (1970-1971) – all before the jackpot's inception.

"Every year, BorgWarner looks forward to the excitement and anticipation leading up to the Indianapolis 500 and the rolling jackpot that accompanies it," said Frédéric Lissalde, President and CEO, BorgWarner. "We're anxious to see if Marcus Ericsson of Sweden will claim the Borg-Warner Trophy®  for the second year in a row and cash in on the jackpot for the first time in over 20 years."

The Greatest Spectacle in Racing is scheduled for Sunday, May 28 at Indianapolis Motor Speedway. Beyond the potential to be in the running to win the rolling jackpot, the driver who claims the 2023 victory will capture the high honor of having their image sculpted then cast in sterling silver and mounted on the iconic Borg-Warner Trophy with their name and average speed for 500 miles. Following the celebrations, the winner will be presented with the BorgWarner Championship Driver's Trophy™ or the "Baby Borg" – a miniature version of the much larger 110-pound sterling silver Borg-Warner Trophy.

If Ericsson does not win the 2023 race, the funds for the jackpot will roll over to the 2024 Indy 500 with an additional $20,000 added to the total prize.

About BorgWarner

For more than 130 years, BorgWarner has been a transformative global product leader bringing successful mobility innovation to market. Today, we're accelerating the world's transition to eMobility — to help build a cleaner, healthier, safer future for all.  

The Borg-Warner Trophy, BorgWarner Championship Driver's Trophy, and BorgWarner Championship Team Owner's Trophy are trademarks of BorgWarner Inc.

Marcus Ericsson is in position to receive the BorgWarner rolling jackpot if he wins the Indianapolis 500 for a second consecutive year, totaling $420,000 or 4,305,924 krona.

Forward Looking Statements: This press release may contain forward-looking statements as contemplated by the 1995 Private Securities Litigation Reform Act that are based on management's current outlook, expectations, estimates and projections. Words such as "anticipates," "believes," "continues," "could," "designed," "effect," "estimates," "evaluates," "expects," "forecasts," "goal," "guidance," "initiative," "intends," "may," "outlook," "plans," "potential," "predicts," "project," "pursue," "seek," "should," "target," "when," "will," "would," and variations of such words and similar expressions are intended to identify such forward-looking statements. Further, all statements, other than statements of historical fact contained or incorporated by reference in this press release that we expect or anticipate will or may occur in the future regarding our financial position, business strategy and measures to implement that strategy, including changes to operations, competitive strengths, goals, expansion and growth of our business and operations, plans, references to future success and other such matters, are forward-looking statements. Accounting estimates, such as those described under the heading "Critical Accounting Policies and Estimates" in Item 7 of our Annual Report on Form 10-K for the year ended December 31, 2020 ("Form 10-K"), are inherently forward-looking. All forward-looking statements are based on assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate under the circumstances. Forward-looking statements are not guarantees of performance, and the Company's actual results may differ materially from those expressed, projected or implied in or by the forward-looking statements.

You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Forward-looking statements are subject to risks and uncertainties, many of which are difficult to predict and generally beyond our control, that could cause actual results to differ materially from those expressed, projected or implied in or by the forward-looking statements. These risks and uncertainties, among others, include: the difficulty in forecasting demand for electric vehicles and our EV revenue growth to 2030; the ability to identify targets and consummate acquisitions on acceptable terms; failure to realize the expected benefits of acquisitions; the ability to identify appropriate combustion portfolio businesses for disposition and consummate planned dispositions on acceptable terms; competitive challenges from existing and new competitors including OEM customers; the challenges associated with rapidly-changing technologies, particularly as relates to electric vehicles, and our ability to innovate in response; uncertainties regarding the extent and duration of impacts of matters associated with the COVID-19/coronavirus pandemic, including additional production disruptions; the failure to realize the expected benefits of the acquisition of Delphi Technologies PLC that the Company completed on October 1, 2020; the failure to realize the expected benefits of the acquisition of AKASOL AG that the Company completed on June 4, 2021 or a delay in the ability to realize those benefits; the failure to successfully execute on a timely basis our taking private strategy with respect to AKASOL; the failure to promptly and effectively integrate acquired businesses; the potential for unknown or inestimable liabilities relating to acquired businesses; our dependence on automotive and truck production, both of which are highly cyclical and subject to disruptions; our reliance on major OEM customers; commodities availability and pricing; supply disruptions impacting the Company or the Company's customers, such as the current shortage of semi-conductors that has impacted OEM customers and the Company; fluctuations in interest rates and foreign currency exchange rates; availability of credit; our dependence on key management; our dependence on information systems; the uncertainty of the global economic environment; the outcome of existing or any future legal proceedings, including litigation with respect to various claims; future changes in laws and regulations, including, by way of example, tariffs, in the countries in which we operate; impacts from any potential future acquisition or divestiture transactions; and the other risks, including, by way of example, pandemics and quarantines, noted in reports that we file with the Securities and Exchange Commission, including Item 1A, "Risk Factors" in our most recently-filed Annual Report on Form 10-K and/or Quarterly Report on Form 10-Q. We do not undertake any obligation to update or announce publicly any updates to or revisions to any of the forward-looking statements in this press release to reflect any change in our expectations or any change in events, conditions, circumstances, or assumptions underlying the statements.

SOURCE BorgWarner

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