Live Blog for the 98th Indianapolis 500

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3:08 p.m. ET: This will be the end of things here on the Live Blog. We’ll have more on the finish of the 98th Indianapolis 500 coming up shortly on MotorSportsTalk, and plenty of post-race stories to follow…

3:01 p.m. ET: A furious finish is in store at the 98th Indianapolis 500 after Townsend Bell crashed in Turn 2 just after INDYCAR threw a yellow for debris in the vicinity.

That yellow then switched to a red flag due to the size of the debris field, and the race has been stopped with nine laps remaining. The decision was met with cheers from the crowd at the Indianapolis Motor Speedway.

Ryan Hunter-Reay took the lead from Helio Castroneves with 15 laps to go and remains up front. Castroneves, who is seeking his fourth ‘500’ win, is in second, followed by Marco Andretti in third, Carlos Munoz in fourth, and Juan Pablo Montoya in fifth.

As for NASCAR star Kurt Busch, a strong second-half run has put him in sixth place as he hopes to head off to tonight’s Coca-Cola 600 in Charlotte with a great result.

2:46 p.m. ET: Scott Dixon has slammed hard into the outside wall in Turn 4 while running near the Top 5, ending his bid for a second Indy 500 title.

After making his first impact on the outside wall, Dixon slid into the inside wall on the front-stretch, as cars behind him dodged his No. 9 Target Chip Ganassi Racing Chevrolet and the debris flying from it. While that incident played out, Martin Plowman ran into the back of Josef Newgarden as they headed for the site of Dixon’s accident.

The leaders pitted for what should be the final time under the caution, and it was Ryan Hunter-Reay that won the race off of pit road. Ed Carpenter was second off, while NBC Sports’ IndyCar analyst Townsend Bell was third off in his KV Racing Technology machine.

The trio restarted in that order at Lap 175, but James Hinchcliffe went to the inside of Carpenter going into Turn 1 as Bell went to their outside. Hinchcliffe and Carpenter wound up making contact and both went into the Turn 2 wall.

Under the yellow, Hunter-Reay leads Bell, Helio Castroneves, Marco Andretti, and Takuma Sato.

2:24 p.m. ET: With 51 laps to go, the 98th Indianapolis 500 finally saw its first caution flag of the afternoon as Charlie Kimball got loose and spun on his own coming off of Turn 2. That came one lap after he was able to make a major save while battling with Takuma Sato.

With 48 laps remaining, Marco Andretti led Ryan Hunter-Reay and the rest of the leaders to the pits for a crucial round of stops. But the 2012 Verizon IndyCar Series champion was able to win the race off pit road over Andretti.

Hunter-Reay and the leaders settled in behind pole sitter Ed Carpenter, who stayed out after pitting a few laps before the Kimball caution on Lap 145.

The Indiana native brought the field back to the green flag at Lap 157, but Hunter-Reay charged by him going into Turn 1. Carpenter re-claimed P1 at the same corner on the next lap, only to have Hunter-Reay shoot past him again at Lap 159.

With 40 to go, your Top 5 is Hunter-Reay, Carpenter, Andretti, Scott Dixon and Helio Castroneves. But a final stop is still on the way…

2:02 p.m. ET: Juan Pablo Montoya appeared set to win the fuel mileage game today at the Indianapolis 500, but the Colombian drew a pass-through penalty for speeding on pit road following his stop at Lap 132.

Before the most recent cycle of green-flag stops, Ryan Hunter-Reay and Helio Castroneves both spent time at the front; Castroneves took the lead from Hunter-Reay on the inside of Turn 1 at Lap 107, but nine laps later, the American returned the favor going into Turn 3.

As those two drivers swapped the point, contender Ed Carpenter had to make an unscheduled stop at Lap 116 due to blistering on his right-rear tire.

On Lap 123, Castroneves pitted from second place under green but had a slow stop and lost precious seconds. Hunter-Reay followed him in soon after and came up with a clean stop, but as the cycle played out, Montoya once again was able to stretch his fuel a few laps longer.

But then came his penalty from his Lap 132 stop, which was called five laps after his Penske teammate, Will Power, was also hit with his own speeding penalty.

At cycle’s end, it’s Hunter-Reay, Marco Andretti, Castroneves, Carpenter, and Scott Dixon running as your Top 5. Montoya has now fallen out of the Top 10.

1:35 p.m. ET: Just more than an hour and 10 minutes into the race, the 98th Indianapolis 500 is halfway home, and caution-free.

At crossed flags, Ryan Hunter-Reay leads Helio Castroneves, Marco Andretti, Ed Carpenter and Juan Pablo Montoya. Montoya ran until Lap 99 before pitting the third time; he has consistently run 3-4 laps longer in each fuel sequence.

Scott Dixon is sixth with Will Power seventh, Simon Pagenaud eighth, JR Hildebrand ninth and Carlos Munoz 10th. Rookie Sage Karam, who started 31st, made it as high as eighth but is consistently pitting 4-6 laps earlier on each sequence.

That leaves Montoya, Karam and Pagenaud as the three on slightly altered fuel strategies heading into the second half of this race, which is so far averaging well over 212 mph.

1:15 p.m. ET: Another round of green flag pit stops are in the books, the second of the race. Juan Pablo Montoya ran four laps longer than the rest of the field on that stint and pitted from the lead on Lap 66; Marco Andretti, who had charged to the front, was the leader just before that.

At Lap 70, the top 10 was Castroneves, Andretti, Carpenter, Dixon, Hunter-Reay, Power, Pagenaud, Montoya, Hinchcliffe and Karam.

Graham Rahal is out of the car and Tony Kanaan’s chances for a repeat win have been dampened by a 40-plus second pit stop for a rear wing adjustment. TK fell back to P31. Pippa Mann also spent extended time in the pits and lost eight laps.

1:00 p.m. ET: We’re past the one-quarter distance mark, with 50 laps in the books. Will Power took the lead from Carpenter on Lap 37 and has led through the Lap 50 mark, with Carpenter second and his Indianapolis teammate JR Hildebrand now third. Marco Andretti is fourth with Helio Castroneves fifth, Scott Dixon sixth and James Hinchcliffe seventh. Carlos Munoz, Tony Kanaan and NBCSN analyst Townsend Bell completed the top 10.

Castroneves got warned for blocking from Race Control after a chop on Andretti down the front straight; the pair were battling for fifth.

Elsewhere rookie Sage Karam made a ridiculously stout move to the outside of fellow first-timer Mikhail Aleshin for P18, and Rahal parked in the pits with apparent engine issues, and reported a loss of drive.

12:50 p.m. ET: More than 30 laps are in the books and Carpenter, who led until Lap 28, needed to pit first as he burned the most fuel while leading. Hinchcliffe followed a lap later on Lap 29 and a bevy of stops followed from there.

On the reset, lap 33 after the first round of green flag pit stops, Hinchcliffe now leads from Carpenter, Power, Castroneves and Hildebrand.

NBCSN analyst Townsend Bell charged to as high as P12 after starting 25th; his setup is identical to KVRT’s winning one for Tony Kanaan in 2013. Meanwhile Kurt Busch runs 20th. Rookie Sage Karam was the first driver to pit, stopping on Lap 27.

Graham Rahal fell to 32nd as his No. 15 National Guard Honda was reported struggling with the rear.

12:33 p.m. ET: We’re 10 laps in. Ed Carpenter has just taken the lead from James Hinchcliffe to mark the first official lead change of the race.

Power’s third with Helio Castroneves, Marco Andretti, JR Hildebrand, Simon Pagenaud, Scott Dixon, Carlos Munoz and Josef Newgarden the top 10.

Biggest mover has been Ryan Hunter-Reay from P19 to P11; Townsend Bell has gained seven spots from P25 to P17, and Sage Karam (P26) and Sebastian Saavedra (P27) each gained five spots. Rookie Jack Hawksworth lost six spots to drop to P19 and Kurt Busch is currently 15th.

12:25 p.m. ET: Jim Nabors has sung “Back Home Again in Indiana” for the final time, and we are green for the 98th running. James Hinchcliffe has led the opening lap for the second time in three years, having also done so in 2012.

Second through fifth: Ed Carpenter, Will Power, Marco Andretti and Helio Castroneves.

Slight contact for Ryan Briscoe has necessitated a pit stop for a new front wing. Briscoe, who started 30th, bounced off the wall at the exit of Turn 2 and made slight right front wing damage.

11:56 a.m. ET: Kurt Busch will begin his quest today to run all 1,100 miles of the Indianapolis 500 and Coca-Cola 600 in just a few minutes. The former NASCAR Sprint Cup Series champion will roll off 12th in his Andretti Autosport Honda for the ‘500,’ and he’s looking forward to tackling multiple challenges.

“[It’s about] just settling in and getting into that race mode, and race mode to me means protecting your car and putting yourself in position to make passes – but not questionable positions,” he told ESPN.

“And there’s pit road – pit road here is one of the toughest in a stock car and very tough in an IndyCar…The guy that makes the least amount of mistakes usually is up close to the front in this race. Sometimes, it’s not the fastest car.”

Kurt Busch and family waiting on the Indianapolis 500 grid. #indycar

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11:30 a.m. ET: Welcome to MotorSportsTalk’s live blog for the 98th Running of the Indianapolis 500. My colleague Chris Estrada and I will be rolling with updates as the race progresses.

Thus far we’ve had the usual parade of bands, vintage cars and celebrities. The pre-race atmosphere is intense and incredible as always, as fans head to their seats and the grid is announced.

Street race in Vietnam could lead Formula One’s Asia expansion

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TOKYO (AP) — Formula One is expected to add more races in Asia, including a street circuit in the capital of Vietnam, a country with little auto racing history that is on the verge of getting a marquee event.

“We think Hanoi could come on in the next couple of years, and we’re working with the Hanoi government to that end,” Sean Bratches, Formula One’s managing director of commercial operations, told the Associated Press.

There is even speculation it could be on the schedule next season, which Bratches rebuffed.

Vietnam would join countries like Azerbaijan, Russia and Bahrain, which have Grand Prix races, little history in the sport, and authoritarian governments with deep pockets that serve F1 as it tries to expand into new markets.

“This (Hanoi) is a street race where we can go downtown, where we can activate a large fan base,” Bratches said. “And you have extraordinary iconography from a television standpoint.”

A second race in China is also likely and would join Shanghai on the F1 calendar. Bratches said deciding where to stage the GP will “be left to local Chinese partners” – Beijing is a strong candidate.

Bratches runs the commercial side of Formula One, which was acquired last year by U.S.-based Liberty Media from long-time operator Bernie Ecclestone.

Formula One’s long-term goal is to have 24-25 races – up from the present 21 – and arrange them in three geographical segments: Asia, Europe and the Americas. Bratches said the Europe-based races would stay in middle of the calendar, with Asia or the Americas opening or ending the season.

He said their positioning had not been decided, and getting this done will be slowed by current contracts that mandate specific places on the calendar for several races. This means eventually that all the races in Asia would be run together, as would races in Europe and the Americas.

The F1 schedule is now an inefficient jumble, allowing Bratches to take a good-natured poke at how the sport was run under Ecclestone.

“We’ve acquired an undermanaged asset that’s 67-years-old, but effectively a start-up,” Bratches said.

Early-season races in Australia and China this year were conducted either side of a trip to Bahrain in the Middle East. Late in the season Formula One returns to Asia with races in Japan and Singapore.

The Canadian GP this season is run in the middle of the European swing, separated by four months from the other races in the Americas – the United States, Mexico and Brazil. These three are followed by the season-ending race in Abu Dhabi, which means another trip across the globe.

“With the right economics, with the right structure and cadence of events across territories, 24 or 25 is probably where we’d like to be from a longer-term standpoint,” Bratches said.

Big changes are not likely to happen until the 2020 season ends. This is when many current rules and contracts expire as F1’s new owners try to redistribute some income to allow smaller teams to compete.

“There’s more interest than we have capacity in the schedule,” Bratches said, firing off Berlin, Paris or London as potentially attractive venues. “We want to be very selective.”

“Those cites from an economic impact standpoint would find us value, as do others around the world,” Bratches added. “It’s very important for us as we move forward to go to locations that are a credit to the Formula One brand.”

An expanded schedule would have to be approved by the teams, which will be stretched by the travel and the wear-and-tear on their crews. The burden will fall on the smaller teams, which have significantly smaller revenue compared with Ferrari, Mercedes or Red Bull.

Bratches also envisions another race in the U.S., joining the United States Grand Prix held annually in Austin, Texas. A street race in Miami is a strong candidate, as are possible venues like Las Vegas or New York.

“We see the United States and China as countries that could support two races,” he said.

Liberty Media has reported Formula One’s total annual revenue at $1.8 billion, generated by fees paid by promoters, broadcast rights, advertising and sponsorship. Race promotion fees also tend to be higher in Asia, which makes the area attractive – along with a largely untapped fan base.

In a four-year cycle, F1 generates more revenue than FIFA or the International Olympic Committee, which rely almost entirely on one-time showcase events.

Reports suggest Vietnamese promoters may pay between $50-60 million annually as a race fee, with those fees paid by the government. Bratches said 19 of 21 Formula One races are supported by government payments.

“The race promotion fee being derived from the government … is a model that has worked historically,” Bratches said.