Branded as the 1971 Schaefer 500 for sponsorship reasons, the race is notable as the first IndyCar win for Team Penske and the first for driver Mark Donohue.

[5] In practice on Tuesday, June 22, Indianapolis 500 champion, Al Unser, had the fastest speed at over 169 mph.

Wally Dallenbach became the first driver to crash when he spun in turn two and damaged the left side of his car.

Seven year-old, Billy Vukovich III, fell out of the infield grandstands and suffered a chip in the bone in his arm and a cut on his chin which required 14 stitches.

[7] Mark Donohue's McLaren car, owned by Team Penske, was destroyed in a crash at the Indianapolis 500 and a new one was constructed for Pocono.

[10] Strongly opposed to this bunch up rule was Roger Penske, owner of Mark Donohue's car.

Notable attendees included Paul Newman, Walter Cronkite, Evel Knievel, Pennsylvania Governor Milton Shapp, former Governor William Scranton, three-time Indianapolis 500 winner Louis Meyer, two-time Indy winner Rodger Ward, and Linda Vaughn.

[12] Indianapolis Motor Speedway track-owner, Tony Hulman gave the command to start engines.

[16] After 32 laps, Indianapolis 500 champion, Al Unser, was black-flagged by officials for leaking oil and fell out of the race.

On lap 43, Steve Krisiloff brought out the caution flag when he spun and lightly hit the wall in turn two.

[17] Bobby Unser led 34 laps but was slowed late in the race with a broken turbocharger wheel.

[21] In addition to $87,874 in prize money, Donohue was awarded the 1971 Chevy Camaro SS pace car, a 14k gold ring, the Autosprint trophy for completing the fastest lap of the race, and 100 pounds of beef from Hungry Ed's Market in Blakeslee.

[26] Initial plans had called for the Indianapolis Motor Speedway Radio Network with Sid Collins to air the race.

[27] One week after the race, a 2-hour syndicated television broadcast was aired on July 10, by the Century TeleSports Network.