The Gran Turismo 5 Time Trial Challenge, first announced December 3, will start this Thursday on December 17, 2009 and run through January 25, 2010. Players will be able to download the demo directly to their PlayStation 3 consoles via the PlayStation Network starting this Thursday.

The demo was specifically designed for this competition to showcase the realism of the brand-new physics engine and to challenge players’ driving skills using professional driving physics and many of the driving assists disabled. The full Gran Turismo 5 will feature multiple driving assists and various settings that can be changed to make the game easier or more challenging and realistic.

The Gran Turismo 5 Time Trial Challenge will allow players to compete in two time trial events with stock and tuned versions of the Nissan 370Z, on a special road course layout of the historic Indianapolis Motor Speedway. The player with the fastest combined lap time for both time trial events will win VIP packages to the 2010 Indianapolis 500® Mile Race next May, with one winner chosen from the US and one from Canada.

Each winner will receive round-trip airfare and hotel accommodations for two (winner and guest) to attend the 2010 Indianapolis 500® Mile Race, a.k.a. the Indy 500®, in May. Each winner will also receive a VIP package that includes two all-access passes for Carb Day® (final Indy 500® practice, pit stop competition, special concert festivities, special event car rides in a 2010 Indy 500® event vehicle), all-access passes to the garage, pit area, and Victory Lane for pre- and post-race celebrations for the race, and two VIP suite tickets to enjoy the race.

Additionally, five runner-ups in the US and five in Canada will receive a voucher code for the PSP version of Gran Turismo.

See here for official rules for the US, and here for Canadian rules in English or French.

Visit here to receive updates from the Indianapolis Motor Speedway®.