Good news for NASCAR driver Ryan Newman

His Roush Fenway racing team has released a statement saying the 42 year old is in a serious condition following his horrific crash at the end of today's Daytona 500 but that his injuries are not life threatening.

Newman's Mustang was turned up the track and into the wall on the run to the chequered flag of the season opening event.

The car went airborne from the contact with the safety barrier only to be struck by the Ford of Corey LeJoie who had nowhere to go on the track.

Newman car flipped multiple times the slid on its roof alone the main straight before coming to a rest at the exit of the pits.