Borgwarner offering $50,000 'Three-peat' bonus to Castroneves. Indianapolis, Thursday, May 15, 2003 -- BorgWarner Inc., the automotive supplier whose name has been on the world-famous Borg-Warner Trophy since 1936, will award a $50,000 bonus to...
Borgwarner offering $50,000 'Three-peat' bonus to Castroneves.
Indianapolis, Thursday, May 15, 2003 -- BorgWarner Inc., the automotive supplier whose name has been on the world-famous Borg-Warner Trophy since 1936, will award a $50,000 bonus to Helio Castroneves if he wins the Indianapolis 500 for a third consecutive year May 25, company officials announced May 15.
Each year, the winner of the Indianapolis 500 wins $130,000 from BorgWarner, plus an additional $20,000 if that driver wins the race two years in a row. This bonus amount increases by $20,000 each year that there is not a "repeat" victory.
In 2002, Castroneves received the $130,000 award plus an additional $160,000 bonus, as the first back-to-back winner since the bonus program was established in 1995. No driver has won three consecutive Indianapolis 500s.
"Auto racing stands for the best in automotive technology," said Tim Manganello, BorgWarner president and CEO. "The Borg-Warner Indianapolis 500 Trophy is a symbol of the achievement and performance that defines both the world of auto racing and our company's position as a world leader in powertrain innovation. If Helio Castroneves makes history this year, BorgWarner will be proud to mark the occasion with this one-time-only award."
Castroneves is unbeaten in the Indianapolis 500, winning his first two starts in the "Greatest Spectacle in Racing."
Castroneves is already a member of an elite group of five back-to-back winners. The others: Wilbur Shaw (1939-40), Mauri Rose (1947-48), Bill Vukovich (1953-54) and Al Unser (1970-71).
BorgWarner Inc. (NYSE: BWA) is a product leader in highly engineered components and systems for vehicle powertrain applications worldwide. The company operates manufacturing and technical facilities in 43 locations in 14 countries. Customers include General Motors, Toyota, Honda, DaimlerChrysler, Ford, Hyundai/Kia, Caterpillar, Navistar International, Renault/Nissan, Peugeot and VW/Audi.