Dan Gurney, one of the founders of All American Racers, who finished second as a driver himself in 1968–1969, won his first and only Indy 500 as a car owner.

Defending champion Johnny Rutherford was in second place, and pole-sitter A. J. Foyt came home third.

Sneva miraculously suffered only minor injuries, and walked away from the wreck with assistance from the safety crews.

On the morning of the race, the Indianapolis Motor Speedway was ceremoniously designated to the National Register of Historic Places.

* Includes days where trackactivity was significantlylimited due to rain For the second year in a row, pop-off valves were required during time trials.

[3] Top speeds would be in the low to mid-190 mph range, and would not challenge the existing track record.

On Thursday May 8, Gordon Johncock showed himself as a favorite for the pole, completing a practice lap at 195.228 mph.

Mike Mosley (187.833 mph) led the speeds early on, and was the fastest car through the first hour.

About an hour later, Bobby Unser took to the track, and at 191.073 mph, bumped Sneva off the pole spot.

Unser's speed did not last long, as Gordon Johncock, the next car out, then took over the provisional pole at 191.652 mph.

With Foyt, Johncock, and Bobby Unser qualifying 1-2-3, it was the first time in Indy history that former winners swept the front row.

Mario Andretti returned from Monaco, and put his car solidly in the field with a speed of 186.480 mph, easily the fastest driver of the day, bumping Kunzman in the process.

Also out early were Salt Walther (his Indy record third last place finish), and Lloyd Ruby, both out with engine problems.

On the leaders' lap 68, Andretti spun out on the backstretch, and slammed into the inside wall near the entrance to turn three.

NASCAR regular Bobby Allison managed to lead one lap during a pit stop shuffle, in what would be his final start at Indy.

Allison had decided to skip the World 600 at Charlotte and was the final noteworthy "cross over" driver to the Indy 500 during that era.

During a sequence of green flag pit stops, A. J. Foyt appeared to run out of fuel going into turn 1.

The engine, gearbox, and rear of the car were ripped from the chassis, leaving a huge fire flash as the fuel and oil ignited in front of the Turn Two Suites.

The caution light came on for the debris, and leader Bobby Unser ducked into the pits for a quick stop (fuel only).

Unser's pit stop allowed third place A. J. Foyt to unlap himself back onto the lead lap.

Starter Pat Vidan took out the red and checkered flag, and the race was halted plus declared complete.

Despite several wrecked cars blocking the track, Unser, Rutherford, and Foyt all managed to make it to the finish line cleanly.

Defending champion Johnny Rutherford followed with a second place, and pole-sitter Foyt finished third, still looking for the elusive fourth Indy win.

The broadcast was carried on 1,200 affiliates including shortwave transmissions via AFN to Europe, Asia, Thailand, and many other locales.

But during the pre-race coverage, Collins interviewed Senator Barry Goldwater as well as Pete DePaolo, who was celebrating fifty years since his victory in 1925.

Longtime Indy fixture Jim McKay sat out the broadcast for one year and was replaced by announcer Keith Jackson.