Hendrick Motorsports is reported to have spent over $3 million on Kyle Larson’s bid to complete the Indy-Charlotte Double.
According to close sources, Hendrick Motorsports committed more than $3 million in its attempt to field Kyle Larson in this year’s Indianapolis 500, confirming the huge investment the reputable NASCAR team made.
The team offered Larson a drive in the 108th edition of the race this year, a decision that drew global attention. It was a part of a collaborative effort with the McLaren IndyCar squad, HMS, and its major sponsor- Rick Hendrick’s network of automobile dealerships.
The average cost of an Indianapolis 500 entry ranges between $1 million and $1.5 million, which puts Hendrick’s financial support of Larson’s participation in both the Indy 500 and the Coca-Cola 600 at Charlotte Motor Speedway on the same day in perspective as well.
Larson was attempting to become the fifth driver to try to complete The Double but the Sunday before Memorial Day didn’t go as planned, despite the investment.
The Indianapolis 500 started four hours later than scheduled due to rain forcing Larson choose between racing at Charlotte or Indianapolis. Larson settled on the 500 and didn’t get the opportunity to race in the 600 because of weather after arriving from Indianapolis.
The Cup race was called off with 151 laps to go and the champion didn’t get to run despite making his IndyCar Series debut and finishing P18.
Larson found himself in need of a waiver to be eligible to run in the 2024 Cup Series playoffs as the rules state “Unless otherwise authorized by NASCAR, driver(s) and Team Owner(s) must start all Championship Events of the current season to be eligible for The Playoffs.”
That left NASCAR was left to decide whether to uphold its rules or to award Larson a playoff waiver to cover his absence from the race.
The sport confirmed on Tuesday that Larson had been awarded a waiver. NASCAR senior vice president of competition Elton Sawyer spoke to the media and stated that one of the factors that led to the decision to grant Larson a waiver was his determination to race in the Coca-Cola 600.
After missing Charlotte, Larson lost both his lead in the point standings and eight potential playoff points. He is currently in second place after finishing P10 in Sunday’s Enjoy Illinois 300 at World Wide Technology Raceway.
