Ford is making some very wise moves as of late, such as bringing back the 5.0 badge for its newly redesigned Mustang. Cranking out 412 horsepower and 390 ft-lbs of torque, it is an able competitor for the new Camaro and Challenger. Even better, Ford has decided that it should sell the 5.0 as a crate engine so project car enthusiasts can drop their new favorite engine into whatever project they see fit.

The 5.0 crate engine costs $6,999 from Ford…but Late Model Restoration is teaming up with Ford Racing Performance Parts to provide one lucky winner with their very own crate engine for free!

The contest is simple, and works as such. Between now and September 1^st, if you purchase $295 worth of Ford Racing products from Late Model Restoration, you can sign up to be sent a free Ford Racing T-shirt. Not a bad deal right there. Those who fill out the form for the free T-shirt will be automatically entered to win a new 5.0 crate engine. It is just that simple.

The drawing for the engine will be held on November 1^st, with the engine being delivered by January 31^st, 2011. This is a drawing for the engine only. You need to come up with the electronics, the mounting bolts, transmission, car, etc. We’ve not sure what the going rate on those six-speed transmissions are…but by January we are sure a few unlucky souls will have crashed their 5.0 Mustangs, and the transmissions ought to be available. Or you could get creative and just go old school…if you win!