Indy NXT prize increases

Penske Entertainment has reacted to an unending volley of criticism for its handling of the advancement awards presented to Indy Lights champion Linus Lundqvist in 2022 by making a number of improvements to benefit its next title winner, those who fill out the championship podium, and the series’ winning team.

Penske Entertainment has added $350,000 to the champion’s advancement prize, bringing it to $850,000. Kyle Kirkwood, the last Indy Lights champion crowned prior to Penske Entertainment’s takeover of the series, received $1.2 million which went towards paying for a full-time seat in IndyCar with A.J. Foyt Racing. Lundqvist, Penske Entertainment’s first Indy Lights champion, received $500,000, and has been unable to find an IndyCar team that is able to do anything with the comparatively small stipend.

More Indy NXT

De Tullio claims first NXT win with Foyt at Barber Race 2

Johnson dodges leaders’ mayhem to win NXT Race 1 at Barber

Taylor emerges from chaos to take first Indy NXT win at Arlington

With the 2023 Indy NXT champion’s $850,000 in hand, the series says the funds can “be applied to an oval test at Texas Motor Speedway, IMS Open Test/ROP, the Indy 500 and an additional 2024 NTT IndyCar Series event,” and “the champion will also receive an IndyCar test on the IMS road course.”

Indy NXT’s runner-up will take home $125,000 and the third-place driver is due to earn $65,000. The champion’s team is set to collect $35,000, and purses for each race will have teams taking home $15,000 to win, $5000 for finishing second, and $2500 for third.

Penske Entertainment says the total prize fund for the season has increased to $1.4 million.