Thousands of hopefuls went into a ticket buying frenzy when Powerball announced its $325 million jackpot for Saturday, November 24th. However, strange odds have caused no one to win the grand prize for an unprecedented 16 drawings in a row. The new grand prize figure? A whopping $550 million. Oh, and the odds are a slim 1 in 175,000,000 chance. That said, you won't win at all unless you play.
Despite the thin odds, iMotor have given the grand prize a bit of thought: How will we ever spend a $550 million Powerball jackpot (approximately $370 million after taxes)? Anyway we please!
Here are the top 5 automotive fantasies we would make a reality once we win the grand prize jackpot:
5. Own a race team
In an interview just before the start of the MotoGP season, Dorna CEO Carmelo Ezpeleta expressed an interest in setting a budget guideline for participating teams. Ezpeleta said, "The cap per team I'd like is 15 million (euros), excluding the salaries of riders and marketing."
This concern was raised after Ezpeleta realized a wide financial gap between the factory teams at the front and the minnow privateer teams at the back. At the time, Honda had an annual budget of an out-of-control 40 million euros per year.
Given the 15 million price cap, we could technically show up to 36 full racing seasons, excluding rider salary and marketing, before going broke!
So why didn't we choose to raise a Formula 1 team, the pinnacle of motorsports? Scuderia Ferrari invests upwards of 400 million euros per season. We wouldn't have the scratch for anything else!
4. Own a house in Monaco
The coastal tax haven for the wealthy is also one of the most illustrious motorsport destinations in the world. Held since 1929, the legendary Formula 1 Monaco GP makes one-third of the original 'Triple Crown' in motorsport, the other two being Indianapolis 500 and the 24 Hours of Le Mans.
A small venue of significant importance, the grandstands only hold seating for 37,000 racing fans. However, if one were to own a beautiful port facing villa, then you wouldn't bother to purchase a ticket at all.
Price of admission? 10 million euros.
3. Become a Racing Driver
Nowadays, being a racing driver takes as much money as it once took talent. Prices of entry vary significantly depending on what series you intend to pursue. Amateur autocross competitions and drag races are probably the least expensive form of racing to pursue.
However, if we dare to aim for Formula 1, racing drivers are usually disciplined for the sport at a very young age. Case in point, 7-time Formula 1 world champion Michael Schumacher had his very first experience behind the wheel at the age of four and won his first championship at the age of six.
What's more, performance must be constant enough to propel the momentum to higher levels of competition such as Formula 3000. Finally, racing drivers hire agents to help capitalize their success and to prep them for a career in Formula 1 later.
Entering into a major team like McLaren will require immense amounts of skill. On the other hand, smaller minnow teams will be more receptive to drivers that can also attract high amounts of capital. This is where your lottery ticket comes in... if you have any money left at all.
2. Cannonball Run
The famous Cannonball Run is one-part glamor and two-parts myth. A legendary underground race that never officially existed was established in the 1970's by race car driver Brock Yates and Car and Driver editor Steve Smith. Literally a race against time, ambitious drivers attempted to drive from a hotel in New York City to Redondo Beach in Los Angeles.
In 2006, Alex Roy took on the challenge to tackle a long standing Cannonball record of NY-LA in 32 hours and 7 minutes. Before that, Alex and his team had already spent 10 months alone just to map 2,800 odd miles before tackling the mission. His car? A badass BMW M5 fitted with a slew of gadgets including an ECU with top speed de-restriction, a beefier set of Brembo brakes, a 20-gallon auxiliary gas tank, a thermal night vision camera, a Valentine One detector, front and rear laser jammer, four GPS devices, 3 scanners, a CB radio, and a taillight kill switch. On his official run, Roy completed the Cannonball in 31 hours and 4 minutes and only stopped for, fill-ups and driver changes, 4 toll booths, and 4 traffic lights.
A bucket list for many car enthusiasts, a winning lotto ticket will go a long way to allow financing for the resources necessary to tackle Alex Roy's record.
1. Dream Garage
The last $550 million Powerball jackpot fantasy is straightforward - think of any and every single car lustworthy car that ever existed and simply pay for it in cold hard cash.
The short list is different for everyone but if there is any collection we can follow by example, spare a moment of your time and visit the garage that belongs to comedian and car enthusiast Jay Leno. Owner of more than a hundred cars from different countries and different eras, be sure to take a look at his website to appreciate the rich variety of incredible automobiles that a wealthy person is able afford.
