Details of the IndyCar Series' new earnings structure will be revealed during a Tuesday morning press conference at the Indianapolis Motor Speedway. Brian Barnhart, Terry Angstadt and Joie Chitwood will lead the unveiling.

Angstadt and Barnhart are the IRL presidents responsible for commercial and racing operations, respectively; Chitwood is the president of the Indianapolis Motor Speedway.

As part of the changes to the IndyCar Series prize money payout, the purse for the 2008 Indianapolis 500 will also be increased, reportedly by 20%, with the winner taking home at least two million dollars.

The exact nature of the changes have yet to leak out, but team officials have been briefed on the basic principles of the new deal which is expected to pay each full-time entrant nearly $1.3 million for the entire 16-race 2008 season.

With several smaller IRL teams just scraping by on their meager sponsorship and race purse income, IRL officials have said the goal of the new plan is to offer teams a consistent and reliable income stream – something the present purse structure does not provide.

Under the system used from 1996 through 2007, race winners would take home roughly $110,000 of the $1 million per race purse, while those at the bottom of the order picked up around $35,000.

Under the new program, the top earners could potentially receive less direct income from the IRL, while those at the bottom will certainly make more. In 2007, Sarah Fisher was last among drivers running all 17 races, earning just over $907,000 in purse money for her Dreyer and Reinbold Racing team.

Additionally, the IRL quietly 'held back' 20% of that figure for the season-long point fund payout – something her team would not participate in based on placing at the bottom of the point standings.

Conversely, Dario Franchitti got a million-dollar point fund check on top of winning the Indy 500, for posted total earnings of $4,017,583. While his Andretti Green Racing team likely kept the majority of that money, most IRL drivers do retain a percentage of those earnings, varying from 25% to 45% - in addition to their salaries.

The new payout system is expected to effectively eliminate per race 'purse' payments, instead paying teams a flat rate for their participation, with an as yet unknown bonus system to be in place to reward those finishing up front in both races and in the overall point standings.

And while the "hold back" is expected to be eliminated, the 2008 IndyCar Series champion will still receive a $1 million bonus.

Using round numbers, IRL teams will now all get about $65,000 for regular races, while the Indy 500 will pay them a minimum of $300,000. It is not yet known what Indy-only participants will be guaranteed, nor how teams running in non-Indy races, but not full time, will be compensated.

The IndyCar Series saw fluctuating, but generally low car counts in 2007. Outside of Indy, there were just 18 full-time participants, though 22 cars showed up for the Chicagoland series finale.

Funding for this increase and restructuring of the overall prize money payout has not been released, but is expected to come in part from the Indianapolis Motor Speedway's switch from hosting the US Grand Prix to having a Moto GP race in 2008. The differential between the sanctioning fees for those events is believed to be in excess of $10 million, with attendance expected to be similar.

Additionally, IRL and IMS owner Tony George is not expected to again field three cars in 2008, unless sufficient sponsorship materializes.

IRL officials are quietly hoping the new payout structure will result in a net increase in the 2008 car counts, with 22 full-time participants being thought to be within reach for 2008.

ORS / CAPSIS International