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Owner's Trophy
The owner of the racing team that wins the Indianapolis 500 receives the BorgWarner Team Owner's Trophy. It is also a replica of the larger trophy but its band of art-deco racing cars is accentuated in gold to symbolize the importance of the team. The award recognizes the importance of the team owner's role in the Indy Racing League, and pays tribute to the value of teamwork in auto racing and the automotive business. It is a companion to the BorgWarner Championship Driver's Trophy.

The BorgWarner Team Owner's Trophy was established in 1998, the year BorgWarner marked its 70th year as a pioneering innovator in the automotive industry and renewed its commitment to product leadership as the strategic focus of its future.

The inaugural BorgWarner Team Owner's Trophy was presented in April 1998 to Fred Treadway of Treadway Racing. 1997 Indy 500 winner Arie Luyendyk was on his team.

A.J. Foyt was the winning team owner in 1999 (Kenny Brack was the winning driver).

Chip Ganassi was the winning team owner in 2000 (Juan Montoya was the winning driver).

Roger Penske was the winning team owner in 2001 (Helio Castroneves was the winning driver).

Roger Penske was the winning team owner in 2002 (Helio Castroneves was the winning driver).

Roger Penske was the winning team owner in 2003 (Gil de Ferran was the winning driver).

Bobby Rahal & David Letterman were the winning team owners in 2004 (Buddy Rice was the winning driver).

Andretti-Green Racing was the winning team owner in 2005 (Dan Wheldon was the winning driver).