04/14/2014 04:50 pm ET

NASCAR Team Owner Spends $1 Million On New Corvette

NASCAR team owner Rick Hendrick must think the new Corvette Z06 looks like a million bucks, because that’s just how much he spent to own the very first one.

The 600-plus horsepower Corvette was sold on Saturday at the Barrett-Jackson collector car auction in Palm Beach, Fla., Fox Sports reports. All of the proceeds went to the Karmanos Cancer Institute.

Chevrolet has not released pricing on the 2015 Corvette Z06, but automotive website reports the new car's price tag will remain close to the 2013 Z06's nearly $76,000 base price.

Hendrick, whose Hendrick Motorsports NASCAR team currently consists of drivers Kasey Kahne, Jeff Gordon, Jimmie Johnson and Dale Earnhardt Jr., is no stranger to helping those with life-threatening illnesses. After being diagnosed with leukemia in 1997, he created the Hendrick Marrow Program to help individuals in need of bone marrow transplants find a matching donor.



2015 Chevrolet Corvette Z06