$50 million Ferrari 250 GTO blows its engine at Goodwood Revival

The Goodwood Revival is a mecca for historic racing enthusiasts. It’s one of those few events where you can catch iconic sports cars from the bygone era battle it out on the racetrack.

Accidents are quite common, but that doesn’t stop the organizers from hosting a race of rare and ultra-expensive Ferraris. This year, a 1962 Ferrari 250 GTO valued at around $50 million blew its engine during the race.

Former F1 driver Karun Chandhok was at the wheel of the 250 GTO when its V12 engine went kaboom! It led to a massive fireball, and the car spun out.

The video shows Chandhok attacking the Fordwater corner when suddenly the engine gives up, sending pieces of flaming debris all over the racetrack. Luckily, he escaped unscathed, and the fire was quickly put out before it could cause more damage.

Here’s what Karun said after the incident:

“Then coming out of Lavant onto the straight – I was in second and cruising – I heard a bang and the back wheels locked up. As I turned I saw flames, so I got right off the track safely, to minimise oil going down and get out of the way.” – via Goodwood.com.