Brief History of the 500

The First Daytona 500

On February 22, 1959, Daytona International Speedway hosted the first Daytona 500. The posted awards for the “500-Mile International Sweepstakes” totaled $67,760. A field of 59 cars took the green flag for the start of the 200-lap race. A crowd of 41,000 was on hand to witness the beginning of another chapter in the history of racing in Daytona.

The finish of the race also went into the history books. The finish was too close to call, but Johnny Beauchamp went to Victory Lane and savored the celebration although the results were posted as “unofficial.”

Sixty-one hours later, Lee Petty was the winner in what appeared to be a dead heat between Petty and Beauchamp – with the lapped car of Joe Weatherly making it a three-wide finish at the checkered flag. A clip of newsreel footage proved that Petty was the winner by a few feet.

The Daytona 500 – 50 Years And Still Growing

Fifty years later, the Daytona 500 is NASCAR’s biggest, richest and most prestigious race.

“The Great American Race,” which traditionally hosts a sell out crowd, has the biggest total payout in prize money for any motorsports event in the United States, surpassing the Indianapolis 500 and the Brickyard 400. The 2007 Daytona 500 posted awards exceed more than $18 million with race winner Kevin Harvick pocketing more than $1.5 million.

The perks of winning the Daytona 500 are more than just collecting the largest payout in the NASCAR Sprint Cup Series or hoisting the prestigious Harley J. Earl trophy. Winning stock car racing’s greatest prize also brings fame and fortune.

“It’s the ultimate race,” said three-time Daytona 500 winner Jeff Gordon following his 2005 Daytona 500 victory. “There’s just no better place to win at than Daytona. You know the sport’s getting more competitive. It’s getting bigger and it’s just one of those races if you pick one, this is the one you want to win.”

Traditionally, following a victory in the Daytona 500, the winner goes on a whirlwind media tour that includes visits to New York City and Los Angeles with appearances on such a high-profile shows like “Late Show with David Letterman” and “Live with Regis and Kelly.”

In addition, the Daytona 500 winning car rests inside Daytona 500 Experience, “The Official Attraction of NASCAR,” for a year for race fans to view and the winning driver has his hand prints, right foot and autograph immortalized in cement at the Daytona 500 Champion’s Walk Of Fame.

Bill Davis Racing reaped a huge benefit after their 2002 Daytona 500 win with then-driver Ward Burton in the form of a sponsorship deal.

Caterpillar, who was in the final year of a sponsorship contract on the No. 22 car, opted to extend its sponsorship agreement and the Daytona 500 victory was a major factor in the decision.

“You hope it wasn't the only thing it was based on, but it probably made a difference,” Davis said. “The team that they believed in, the team they had been with for four years, had done them a good enough job that they would look at five more years.

“Certainly, winning the biggest race, winning the Super Bowl, winning the Masters, winning the World Series, didn't hurt.”

Besides the financial aspect of winning the Daytona 500, the victory can also elevate a driver’s status in the sport.

“Winning a race during Speedweeks, it makes you quite a bit more valuable, I think, in the sport as a driver,” said Dale Earnhardt Jr., the 2004 Daytona 500 winner. “Winning any race at Daytona, it’s like going into Yankee Stadium and winning a game. It further solidifies you as a driver.”

NASCAR Sprint Cup Series driver Elliott Sadler has yet to win a Daytona 500 but knows the impact would be huge for his career.

“If you win the Daytona 500, it will stay with you throughout your racing career,” Sadler said. “It’s really helped a lot of people catapult their careers up to the next level. There are a few races that if a driver wins, owners and sponsors really pay attention too.”

Said 1990 Daytona 500 champion Derrike Cope: “When you say you have a Daytona 500 win, that’s like a Super Bowl ring.”