A thrilling one-lap shootout was set-up after late drama inside the final 10 laps, beginning with Caio Collet’s fiery crash with eight laps to go before Mick Schumacher’s first turn shunt with four laps remaining.
Rosenqvist’s teammate Marcus Armstrong led the start of the final lap but was immediately overtaken by Malukas entering Turn 1.
Armstrong and Rosenqvist looked like they might cost each other the win as they ran side-by-side from Turn 2 through Turn 4.
However, Rosenqvist was able to clear Armstrong out of Turn 4 and catch Malukas to slipstream his way by for the win.
In the end, just 0.023s split the top two at the finish line.
“What a car, what a car,” said Rosenqvist.
“We had two cars in there for the win, and that’s a very luxurious situation to be in for a team.
“Thanks Meyer Shank Racing, Honda … I think we were the best car today.
“In all situations, we kind of had it under control. That last yellow didn’t help us, but it kind of worked out the right way when I got back to third.
“Then I just had a flat-out lap on the high line, and it was just the coolest way you can win the Indy 500.
“I really miss my wife and newborn child, I wish they were here with me.”
Chip Ganassi Racing driver Alex Palou led the field to the green flag from pole position but immediately lost the lead to Rossi entering Turn 1. However, Palou returned serve almost immediately, entering Turn 3.
The Spaniard led the opening lap from Rossi, Santino Ferruci, Malukas, and Rosenqvist, Conor Daly. Palou and Rossi spent the opening stanza trading the lead, lap after lap, while there was very little churn inside the top 10.
Josef Newgarden was the biggest mover in the first 10 laps. From 23rd, the Team Penske pilot rose seven places to 16th. Rosenqvist, meanwhile, made early headway to third and kept a watching brief behind the top two.
The first yellow flew on Lap 18 when Ryan Hunter-Reay lost control of his McLaren exiting Turn 2. Left with nowhere to go, Katherine Legge swerved in avoidance – veering into the inside SAFER barrier.
The first round of pit stops began, led by Palou. He resumed the lead of the race ahead of Rosenqvist. The big mover was Scott McLaughlin, who came out third in the queue.
Juncos Hollinger Racing’s Rinus VeeKay stayed out and inherited the lead ahead of Romain Grosjean (Dale Coyne Racing) Caio Collet (AJ Foyt Racing), and Jack Harvey (Rahal Letterman Lanigan Racing).
Palou was the first of those who pitted in fifth ahead of Rosenqvist, McLaughlin, Santino Ferrucci, Malukas, and Connor Daly. Scott Dixon was 11th, Will Power 18th, and Marcus Armstrong 19th.
The biggest loser was Rossi, who suffered a slow change on the right rear and plummeted to 17th.
The caution came out almost immediately after the Lap 27 restart. The field hadn’t even gotten through Turn 1 before owner-driver Ed Carpenter spun.
Replays showed he got squeezed by Rahal Letterman Lanigan Racing’s Takuma Sato. An irate Carpenter wagged his finger at Sato a lap after getting out of the car, appearing to
VeeKay pitted from the lead under the yellow, which handed first place to Grosjean.
Collet shot to the lead on Lap 32 and Palou followed him through with a pass on Grosjean. The Frenchman continued to fall, this time losing a place to Daly at Turn 3.
There were spectacular scenes on Lap 34 when Daly passed Collet and Palou in Turn 1 to take the lead. That lasted less than a lap, however, as Collet returned to top spot.
On Lap 39, Grosjean pitted from sixth to take fuel and tyres. Collet, meanwhile, pitted on Lap 40. That handed Daly the lead from Palou, McLaughlin, and Malukas.
As soon as Daly took the lead, though, Palou made his move for the lead on Lap 41.
Collet and Grosjean returned to the road just in front of Palou, giving the Chip Ganassi Racing driver an opportunity to save fuel in the tow of the Dale Coyne Racing car ahead.
At quarter-race distance, Palou led Daly, Malukas, McLaughlin, Newgarden, Rosenqvist, Ferrucci, Dixon, Kyffin Simpson, and Pato O’Ward.
Green flag pit stops began in earnest on Lap 60. Once the field was cleansed, it was still Palou who led Rosenqvist. The biggest benefactor was Dixon, who ran long, pitting on Lap 63, and got up to third.
Newgarden was fourth and Malukas fifth. McLaughlin was sixth, Daly seventh, O’Ward eighth, Simpson ninth, and Marcus Ericsson 10th.
Dixon suddenly surged to the lead to make it a Chip Ganassi Racing one-two on Lap 69, adding to his most laps led tally.
In a similar vein to the start of the race, Dixon and Palou traded places at the front of the field lap after lap.
The second round of green flag pit stops began on Lap 90, led by Rossi out of 15th.
Then, on Lap 92, Will Power suffered a sudden gearbox failure.
Incredibly, for the second year in a row, Rossi’s race ended in the pit lane when his car expired. Rossi pulled up short of his Ed Carpenter Racing stand, instead stopping at Andretti Global where he was assisted from his car.
The caution coincided with scheduled pit stops, which began on Lap 97. Dixon maintained the lead ahead of Palou and Newgarden. Rosenqvist lost the most ground in the pits as he dropped from third to seventh behind O’Ward. The top 10 was completed by Ericsson, Daly, and Armstrong.
Officials threw the red flag on Lap 106 for inclement weather. Following a brief break, racing resumed on Lap 110.
It was a slow restart for Dixon, who got rounded up by Palou and Malukas into Turn 1 and Newgarden too.
Palou’s lead lasted one turn as Malukas took top spot away into Turn 3. Daly, meanwhile, was the biggest mover on the restart, up six places to third by Lap 112.
Rain in Turn 4 brought the yellow back out on Lap 116.
Malukas led the field to green on Lap 126. However, it lasted just a few seconds as Newgarden spun out of the final turn after dropping the left side tyres onto the concrete lip.
There was a fascinating strategy divergence on Lap 130 when O’Ward and Rosenqvist pitted, suggesting they could get to the finish on one more stop. It was ultimately a race-defining move by the pair.
On the Lap 133 restart, Malukas got swamped and slumped to sixth. Daly shot to the lead at Turn 1 before being overtaken by McLaughlin into Turn 3.
Once the race settled back into a rhythm, it was McLaughlin and Palou who warred over the lead. Malukas, meanwhile, fought back to third while Daly dropped back to fourth.
As the race neared three-quarters distance, the quiet achievers were Ericsson in fifth and Kirkwood in seventh.
Malukas resumed the lead of the race on Lap 147. At the end of the lap, he pitted with McLaughlin in tow.
Palou responded a lap later with Daly and Ericsson behind. Unsurprisingly, Dixon ran long before pitting on Lap 150.
Malukas and Palou traded places in the pack of cars to have pitted, down in 16th and 17th. Meanwhile, Rosenqvist led the race on the alternate strategy with Simpson, O’Ward, Armstrong, and Dennis Hauger behind.
O’Ward made his final pit stop on Lap 164 out of second, Hauger on Lap 165, and Rosenqvist on Lap 166.
O’Ward came out in the thick of the battle for the corrected lead behind McLaughlin while Rosenqvist slotted in behind O’Ward. Hauger, meanwhile, was taken out of contention for a pit lane speeding penalty.
Malukas pitted on Lap 175 from the lead. McLaughlin followed suit a lap later on Lap 176 and then Palou on Lap 177. O’Ward inherited top spot with Rosenqvist second and Armstrong four seconds back in third.
With 20 laps to go, Grosjean was 23 seconds back in fourth followed by Ferrucci, Malukas, Sato, VeeKay, Palou, and Collett.
Battling brake-dragging issues, O’Ward relinquished the lead to Rosenqvist with 15 laps to go.
Then drama struck with eight laps to go when Collet slammed his AJ Foyt Racing entry the wall at Turn 2. The Brazilian driver’s car erupted spectacularly before coming to a rest in the grass.
The red flag was flown, setting up a four-lap dash to the chequered flag.
On the restart, third-placed Armstrong rounded up the top two to take the lead. Malukas shot to second while Rosenqvist and O’Ward dropped to third and fourth respectively.
Moments later, the yellow was flown when Rahal Letterman Lanigan Racing’s Mick Schumacher got up into the wall.
A one-lap dash to the chequered flag ultimately decided the outcome. Armstrong went early but was caught into Turn 1 by Malukas.
Rosenqvist tried to round up Armstrong around his outside. The pair ran side-by-side, seemingly giving Malukas a free kick.
However, Rosenqvist was able to clear Armstrong and slingshot his way by Malukas at the yard of bricks.
Behind them, McLaughlin enjoyed a sudden surge to come home third just 0.007s ahead of O’Ward.
Results: 110th Running of the Indianapolis 500, Indianapolis Motor Speedway
| Pos | Num | Driver | Team | Laps/Diff | Gap |
| 1 | 60 | Felix Rosenqvist | Meyer Shank Racing | 200 laps | 200 |
| 2 | 12 | David Malukas | Team Penske | 0.023 | 0.023 |
| 3 | 3 | Scott McLaughlin | Team Penske | 0.42 | 0.397 |
| 4 | 5 | Pato O’Ward | Arrow McLaren | 0.427 | 0.007 |
| 5 | 66 | Marcus Armstrong | Meyer Shank Racing | 0.436 | 0.009 |
| 6 | 76 | Rinus VeeKay | Juncos Racing | 1.076 | 0.64 |
| 7 | 10 | Alex Palou | Chip Ganassi Racing | 1.095 | 0.019 |
| 8 | 14 | Santino Ferrucci | A.J. Foyt Enterprises | 1.575 | 0.48 |
| 9 | 18 | Romain Grosjean | Dale Coyne Racing | 2.073 | 0.498 |
| 10 | 75 | Takuma Sato | Rahal Letterman Lanigan Racing | 2.451 | 0.378 |
| 11 | 6 | Nolan Siegel | Arrow McLaren | 2.678 | 0.227 |
| 12 | 23 | Conor Daly | Dreyer & Reinbold Racing | 2.724 | 0.046 |
| 13 | 28 | Marcus Ericsson | Andretti Global | 3.321 | 0.598 |
| 14 | 8 | Kyffin Simpson | Chip Ganassi Racing | 3.806 | 0.485 |
| 15 | 9 | Scott Dixon | Chip Ganassi Racing | 3.843 | 0.037 |
| 16 | 27 | Kyle Kirkwood | Andretti Global | 5.227 | 1.384 |
| 17 | 7 | Christian Lundgaard | Arrow McLaren | 6.302 | 1.075 |
| 18 | 47 | Mick Schumacher | Rahal Letterman Lanigan Racing | 14.931 | 8.629 |
| 19 | 19 | Dennis Hauger | Dale Coyne Racing | 1 lap | 1 lap |
| 20 | 15 | Graham Rahal | Rahal Letterman Lanigan Racing | 0.41 | 0.41 |
| 21 | 45 | Louis Foster | Rahal Letterman Lanigan Racing | 0.968 | 0.558 |
| 22 | 24 | Jack Harvey | Dreyer & Reinbold Racing | 1.164 | 0.197 |
| 23 | 77 | Sting Ray Robb | Juncos Racing | 1.447 | 0.283 |
| 24 | 51 | Jacob Abel | Abel Motorsports | 2 laps | 1 lap |
| 25 | 6 | Helio Castroneves | Meyer Shank Racing | 6 laps | 4 laps |
| 26 | 4 | Caio Collet | A.J. Foyt Enterprises | 9 laps | 3 laps |
| 27 | 21 | Christian Rasmussen | Ed Carpenter Racing | 56 laps | 47 laps |
| 28 | 2 | Josef Newgarden | Team Penske | 76 laps | 20 laps |
| 29 | 26 | Will Power | Andretti Global | 109 laps | 33 laps |
| 30 | 20 | Alexander Rossi | Ed Carpenter Racing | ||
| 31 | 33 | Ed Carpenter | Ed Carpenter Racing | 174 laps | 65 laps |
| 32 | 31 | Ryan Hunter-Reay | Arrow McLaren | 183 laps | 9 laps |
| 33 | 11 | Katherine Legge | HMD Motorsports | 1.074 | 1.074 |

























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