From the start, it appeared that David Pearson was on his way to his first Daytona 500 victory as he built a sizable lead on second place Benny Parsons late in the race. However, Richard Petty, who was eight laps behind the leaders on his way to finishing seventh, and Parsons hooked up in a draft and began reeling in Pearson who was slowed by lapped traffic. The key moment of the race occurred two laps from the end when contact with Cale Yarborough in traffic sent Pearson spinning on the backstretch. Parsons avoided the accident and went on to take the win.