A $100,000 purse is up for grabs among 12 IZOD IndyCar Series teams in the Indianapolis 500 Pit Stop Competition as part of Miller Lite Carb Day on May 25 at the Indianapolis Motor Speedway.

The Pit Stop Competition consists of four rounds of head-to-head competition in which teams change four tires and simulate fueling.

Unlike past years, the winning team in each round will advance by having the quickest time from drop of the green flag until the car reaches the finish line. The winning team will receive $50,000, with the remainder of the purse being distributed based on finish.

Seven entrants have qualified through their performance at 2011 IZOD IndyCar Series races following the Indy 500:

No. 2 Team Penske with Ryan Briscoe
No. 3 Team Penske with Helio Castroneves
No. 9 Target Chip Ganassi Racing with Scott Dixon
No. 12 Team Penske with Will Power
No. 26 Andretti Autosport with Marco Andretti
No. 27 Andretti Autosport with James Hinchcliffe
No. 50 Target Chip Ganassi Racing with Dario Franchitti

The Nos. 2, 3 and 50 will receive byes into the quarterfinals, along with either the Nos. 9 or 12 that are tied for position. A blind draw will determine the qualifier.

The remainder of the 12-car field will be filled through time trials at 9 a.m. May 16 at the Speedway.