INDIANAPOLIS (AP) — Swedish driver Felix Rosenqvist earned a record $4.34 million payout after winning his first Indianapolis 500 on Sunday — topping Alex Palou’s total from last year by more than $500,000.

The total purse, $30,906,400, was also a race record, organizers announced before Monday night’s formal victory celebration dinner in downtown Indianapolis. That’s a nearly $11 million increase over last year’s previous all-time high.

Rosenqvist made a daring, perfectly timed pass on the outside of David Malukas in the closing yards, beating Malukas across the yard of bricks by 0.0233 seconds in the closest finish in race history. The previous mark came in 1992 when Al Unser Jr. beat Scott Goodyear by 0.043 seconds.

Malukas finished second for a second straight year on the Brickyard’s 2.5-mile oval.

“The Indianapolis 500 continues to make history, in more ways than one,” track president Doug Boles said in a statement. “The month of May featured a back-to-back grandstand sellout crowd — our largest crowd since the 100th Running in 2016 — and intense on track action with the most lead changes ever in the Indy 500. Felix Rosenqvist added his name to the history books in stellar fashion, with the closest finish in Indy 500 history and now the largest purse. There’s no better end to a memorable month.”

The average payout nearly doubled, hitting $936,500 compared with last year’s record of $596,500.

Mick Schumacher collected a $50,000 bonus for being named the race’s Rookie of the Year. The son of seven-time world champion Michael Schumacher pocketed $218,800.

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AP auto racing: https://apnews.com/hub/auto-racing