Kyle Larson not being able to complete the Double as planned on Memorial Day Weekend has left Hendrick Motorsports with some serious financial setbacks. While the exact figure that was spent on the driver’s Indy 500 wasn’t revealed, reports suggest that it could have been as much as $3 million. But along with the cost of the Coca-Cola 600 entry, Rick Hendrick looks at some hefty costs.
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IndyCar executives confirm that the average cost of an entry in the Indy 500 falls at around $1 million to $1.5 million. What Hendrick spent is almost double the normal cost. The expenses included items like the cost of sponsorship, the multiple test sessions that Larson had to run, private plane journeys, stay arrangements for employees, and other transportation.
The investment ended up yielding little to no returns as Larson finished 18th in the Indy 500 and failed to race in the Coca-Cola 600 due to bad weather. Had things worked out as planned, Hendrick would’ve stood to gain a lot from it. Meanwhile, Google Trends data reveal that this May had the most number of searches around Larson since his suspension back in 2020.
Though he couldn’t create an impact in the final results of the Indy 500, he was awarded Rookie of the Year honors. To add to the worries of losing a big chunk of dollars, the team also had to deal with the fiasco of not getting the playoff waiver request approved easily. NASCAR chose to take its time in approving the request and had Hendrick sweating for a good while.
Will Hendrick Motorsports send Kyle Larson to race in the Indy 500 again?
Hendrick Motorsports could very well return to Indianapolis next year and attempt the Double once again. Deals to do so are already in place and it is up to the team and Larson to make the call. However, the financial loss that has been incurred will serve as a reminder of the things that could potentially go wrong. On the brighter side, the attempt is more of an ideological showing from the team.
Jeff Gordon had viewed the Double as an effort to improve the star power of Larson. He believed that doing so would attract more fans to the sport and at the end of the day, benefit all. Since that purpose is yet to be solved, the team could ignore the financial risks and opt to run again.
