Born in Arvika, Sweden, Bräck grew up in the village of Glava, where his father taught him to drive on the frozen lakes during winter. A neighbor introduced him to karting at the age of thirteen, purchasing a kart for him after Bräck worked at his business for the summer. Bräck notably managed his own career throughout its duration, handling sponsorship acquisition and contract negotiation alongside his driving duties.
Bräck began his formula racing career in Britain and Sweden, competing in Formula Ford and Formula 3, becoming the 1986 Swedish junior Formula Ford Champion. He continued in Europe with Formula Opel Lotus and the Renault Clio Cup, winning the Scandinavian championship in 1992. He then moved to the US, winning the 1993 Barber Saab Pro Series championship.
In 1994, Bräck competed in the International Formula 3000 series, finishing third in the 1995 championship for Madgwick Racing. He served as a test driver for Arrows Formula One in 1996, but left mid-season to focus on his European F3000 campaign. He finished second in the 1996 International F3000 championship for Super Nova, a result that would have been a championship win had a controversial Clerk of the Course decision not disqualified him from the final race.
Bräck debuted in the Indy Racing League (IRL) in 1997, driving for Galles Racing at Phoenix and finishing eleventh after an accident. He secured two top-five finishes that year at Charlotte and New Hampshire. He qualified fifteenth for the 1997 Indianapolis 500, but was unable to finish the race after an accident on the final pace lap.
In 1998, driving for A. J. Foyt, Bräck won three consecutive races and secured the IRL championship. He defended his title in 1999, winning the Indianapolis 500 and finishing as runner-up to Greg Ray in the overall championship standings. Following the 1999 season, he moved to the CART FedEx Championship Series.
Bräck switched to CART in 2000, joining Team Rahal and earning Rookie of the Year honors, finishing fourth in the championship. In 2001, he finished second in the driver's championship, winning a season-high four races and six pole positions, but ultimately lost the title to Gil de Ferran due to struggles on road and street) circuits. He also made a minor appearance in the Hollywood film Driven in 2001.
In 2002, Bräck raced for Chip Ganassi Racing, winning the CART season finale Mexico City G.P., his only major North American open-wheel victory on a road or street circuit. He also competed in the International Race of Champions (IROC) series in 2001, finishing third in the championship – the highest position for a non-stock car driver.
Bräck returned to the IRL in 2003 with Rahal Letterman Racing, achieving a second-place finish at Twin Ring Motegi in Japan. However, the final race at Texas Motor Speedway saw him suffer a severe crash after contact with Tomas Scheckter. The impact registered a peak g-force of 214 g, the highest ever recorded in a racing incident. He sustained multiple fractures, including his sternum, femur, a vertebra, and crushed ankles, requiring eighteen months of recovery.
Bräck made a comeback at the 2005 Indianapolis 500, replacing an injured Buddy Rice and setting the fastest qualifying time at 227.598 mph (366.283 km/h), though he started 23rd due to qualifying procedures. He retired from the race with a mechanical problem, finishing 26th.
Following his open-wheel career, Bräck transitioned to rally, winning the Dukerie's Rally in England in 2011 with co-driver Emil Axelsson, and the Swedish Midnight Sun Rally in July of the same year. In September 2009, he won a gold medal at X Games 15 in Rally, becoming the first specially invited driver to achieve this. He also competed in historic racing, winning the RAC Tourist Trophy race at Goodwood Revival in 2011 with Tom Kristensen in a 1964 Shelby Daytona Coupé, and the Whitsun Trophy race in 2013 with Adrian Newey in a Ford GT40.
As of 2011, Bräck resided in England and had retired from open wheel racing. He has since worked with McLaren Automotive on dynamic car development, becoming their chief test driver in 2018. In 2017, he set a lap record for road-legal cars at the Nürburgring Nordschleife in a McLaren P1 LM. He also managed Marcus Ericsson, who won the Indianapolis 500 in 2022, becoming the second Swede to win the race after Bräck. Bräck is also the lead member and songwriter of the rock band “Bräck”.
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