Record $8M Purse For Daytona 500

By CBSNews.com staff CBSNews.com staff

January 31, 1999 / 4:58 PM EST / CBS Sportsline

When Lee Petty won the inaugural Daytona 500 in 1959, he collected a substantial payoff for that time -- $19,050. Johnny Beauchamp finished second, and got $7,650.

On Feb. 14, the winner of the 41st running of NASCAR's premier race will take home a minimum of $1.1 million from a record purse of $8 million. That's more than double what the race paid just four years ago.

Last year, Dale Earnhardt won $1.1 from a purse of $7 million -- both records for NASCAR. Runner-up Bobby Labonte collected $549,225.

The smallest payoff last year went to Steve Park, who picked up $70,780 despite failing to finish the race at Daytona International Speedway.

The top payout this year could exceed $2 million should the winner be one of five drivers eligible for Winston's No Bull 5 bonus of $1 million.

The bonus chasers are former Daytona 500 winners Dale Jarrett and Jeff Gordon, and Jimmy Spencer, Terry Labonte and Jeremy Mayfield -- the top five finishers last October in the Winston 500 at Talladega Superspeedway.