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Warm-up
The drivers took to the track in cloudy, dry weather at 09:30 Central European Summer Time (UTC+2) for a 30-minute warm-up session. Coulthard was second, and his teammate Häkkinen was third after being quickest until Barrichello's time. Verstappen finished fourth after leading after 15 minutes. Michael Schumacher was fifth in the other Ferrari. Zonta finished sixth, 1.1 second slower than Barrichello. No major incidents occurred in warm-up. Häkkinen went into the gravel at the final right turn. His teammate Coulthard ran wide at the same corner and slid onto the grass before requiring a new nose cone after colliding with a Jordan car. lasted 71 laps over . weather forecasts indicated a 30% chance of rain. but braked alongside Barrichello and compromised his entry to turn one. McLaren also used team orders, which allowed the driver who entered the first turn first to avoid being challenged. Ahead of them, Zonta outbraked himself and slammed into the rear of Michael Schumacher's car, sending Schumacher into a 180-degree spin. Schumacher stopped on the kerbs beside the outside grass. Trulli struck Michael Schumacher's right-front suspension. Marshals cleared debris and removed the stricken cars on the outside just off the racing line with recovery vehicles. Verstappen took 15.5 seconds to conduct a pit stop to replace a damaged front wing. After Arrows noticed unusually high gearbox temperatures on lap 33, De la Rosa retired from third place in the pit lane due to an gearbox oil leak. This moved Button to sixth position. Wurz dropped to tenth after running eighth by lap 34. Salo completed the points scorers in sixth. Herbert, Gené, Diniz and Wurz were in the next four positions, albeit one lap behind the winner, with Burti and Mazzacane the final classified finishers.
Post-race
The top three drivers appeared on the podium to receive their trophies and at the following press conference. Häkkinen said that his team displaying pit boards left him confused whether he had a problem or was being told not to go faster. He said that finishing second would not cause him to think about his potential of winning the Drivers' Championship. After Button came fifth, the Williams team principal Frank Williams commented on his performance, "Jenson really excelled himself again driving in difficult circumstances at the end of the race and under a lot of pressure". Salo earned his third points of the season after finishing fifth in the . While he was happy, he said he struggled with excess oversteer in the track's fast corners. De la Rosa believed he might have reached lap 37 while saving fuel by being on a lean fuel map before retiring. He praised his car and its engine, adding: "It was a shame really, because it would have been good to finish so high." Zonta believed the incident was not his fault and that Michael Schumacher braked harder than him, although he apologised for retiring from the race. He apologised to Schumacher via fax.
At a routine post-race inspection, the FIA investigated irregularities with Häkkinen's car after technical delegate Jo Bauer discovered a missing necessary paper seal on the electronic box. Additional samples from the electronic box (impounded by the FIA's technical delegates) were taken following the race; this was software downloaded that found no issues with the FIA's software coding. A spokesman for the McLaren team said: "No one changed the software, so there's no reason for us to be worried." The FIA concluded on July 25 that Häkkinen gained no competitive advantage from the missing seal and therefore Häkkinen's victory stood. McLaren, on the other hand, was deducted 10 points and fined $50,000 for violating Article 7 of the 2000 Formula One Sporting Regulations, which stipulated that competitors had to maintain some safety and eligibility criteria during the event. McLaren did not appeal the penalty, and managing director Martin Whitmarsh stated, "We now consider the matter closed."
Michael Schumacher's lead in the World Drivers' Championship decreased to six championship points as a result of his first-lap retirement. Coulthard was second with 50 championship points, two more than teammate Häkkinen and eight more than Barrichello. Fisichella retained fifth with 18 championship points despite not finishing.
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Championship standings after the race
;Drivers' Championship standings
{| class="wikitable" style="font-size: 85%;"
|-
! scope="col" |
! scope="col" |
! scope="col" | Driver
! scope="col" | Points
|-
|align="left"| 10px
| align="center" | 1
| Michael Schumacher
| 56
|-
|align="left"| 10px
| align="center" | 2
| David Coulthard
| 50
|-
|align="left"| 10px
| align="center" | 3
| Mika Häkkinen
| 48
|-
|align="left"| 10px
| align="center" | 4
| Rubens Barrichello
| 36
|-
|align="left"| 10px
| align="center" | 5
| Giancarlo Fisichella
| 18
|-
!colspan=4|Sources:
|}
;Constructors' Championship standings
{|class="wikitable" style="font-size: 85%;"
|-
! scope="col" |
! scope="col" |
! scope="col" | Constructor
! scope="col" | Points
|-
|align="left"| 10px
| align="center" | 1
| Ferrari
| 92
|-
|align="left"| 10px
| align="center" | 2
| McLaren-Mercedes
| 88 <!-- Please do not change this to "98" - McLaren were docked 10 points due to a missing seal on Häkkinen's car -->
|-
|align="left"| 10px 1
| align="center" | 3
| Williams-BMW
| 19
|-
|align="left"| 10px 1
| align="center" | 4
| Benetton-Playlife
| 18
|-
|align="left"| 10px 1
| align="center" | 5
| BAR-Honda
| 12
|-
!colspan=4|Sources: