Y'know, JJL, I can't swear I saw a parachute either, but the pod does float downward as if there's a chute, at least.
I know the ideal time would've been ten years ago, but, man, the guy's toyetic, even if not at all realistic, his scene his memorable, and he's one of the very few podracers to do anything memorable. (I'd say Ody Mandrell, Mawhonic, and Ratts Tyrell would be the others. Teemto, cool as he and his pod are, just dies. Ratts at least gets a silly scream out before dying.)