Fox Acquires One- Third Stake In Penske Entertainment Owner Of Indycar Series

Published in Media and Entertainment on Thursday, July 31st 2025 at 12:26 GMT by Deadline.com
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Fox has purchased a one-third interest in Penske Entertainment inclusive of Indycar and the iconic Indianapolis Motor Speedway.

Fox Sports Secures Landmark Deal with Penske Entertainment for Exclusive IndyCar Series Broadcast Rights Starting in 2025

In a groundbreaking move that promises to elevate the visibility of open-wheel racing in North America, Fox Sports has inked a multi-year agreement with Penske Entertainment to become the exclusive broadcast partner for the NTT IndyCar Series, including the iconic Indianapolis 500, beginning in 2025. This partnership marks a significant shift in the motorsport broadcasting landscape, transitioning the series from its previous home on NBC to the Fox network, where it will receive unprecedented exposure on over-the-air television. The deal underscores Fox's growing commitment to motorsports and Penske Entertainment's strategy to broaden the appeal of IndyCar to a wider audience.

Under the terms of the agreement, Fox will air all 17 races of the IndyCar calendar live on its flagship broadcast network, a first in the series' history. This means that every event, from the season-opening Firestone Grand Prix of St. Petersburg to the championship-deciding finale, will be accessible to viewers without the need for cable subscriptions or streaming services. Additionally, Fox Sports 1 (FS1) and Fox Sports 2 (FS2) will provide comprehensive coverage of practice sessions, qualifying rounds, and other ancillary programming, ensuring fans get an immersive experience throughout the season. The crown jewel of the deal is the Indianapolis 500, often dubbed "The Greatest Spectacle in Racing," which will make its debut on Fox broadcast television. This is a historic moment, as the race has been a staple on ABC and later NBC for decades, but never before on Fox.

Penske Entertainment, the parent company of both the IndyCar Series and the Indianapolis Motor Speedway (IMS), views this partnership as a pivotal step in expanding the sport's reach. Roger Penske, the legendary team owner and chairman of Penske Entertainment, expressed enthusiasm about the collaboration, stating that Fox's extensive platform will help attract new fans while rewarding loyal ones. "We've always aimed to make IndyCar more accessible, and partnering with Fox allows us to do just that," Penske said in a statement. "Their commitment to broadcasting every race on network TV is a game-changer, and we're excited to bring the thrill of IndyCar to living rooms across America."

The deal comes at a time when IndyCar is experiencing a resurgence in popularity, fueled by competitive racing, international talent, and innovative events. Mark Miles, President and CEO of Penske Entertainment, highlighted the strategic importance of the move. "Fox has a proven track record in motorsports, from NASCAR to Formula 1 coverage in the past, and their enthusiasm for IndyCar aligns perfectly with our vision," Miles noted. He emphasized that the agreement includes not only race broadcasts but also enhanced digital and social media integration, allowing for greater fan engagement through apps, online streams, and interactive content. This holistic approach is expected to boost viewership metrics, which have been steadily climbing in recent years under NBC's stewardship but are poised for even greater gains with Fox's broader reach.

From Fox's perspective, the acquisition of IndyCar rights bolsters its portfolio of high-profile sports properties. Eric Shanks, CEO and Executive Producer of Fox Sports, described the partnership as a natural fit. "IndyCar represents the pinnacle of speed, skill, and excitement in American motorsports," Shanks said. "We're thrilled to bring this series to our broadcast network, where it can reach the largest possible audience. The Indianapolis 500 is an American institution, and airing it on Fox will allow us to showcase it like never before, with top-tier production values and storytelling that captures the drama on and off the track." Fox plans to leverage its experienced broadcast team, potentially drawing from its NASCAR coverage, to deliver dynamic commentary, in-depth analysis, and behind-the-scenes features.

This transition ends NBC's run with IndyCar, which began in 2019 after the network outbid ABC for the rights. During NBC's tenure, the series saw notable viewership spikes, particularly for the Indy 500, which averaged around 5 million viewers in recent years. However, challenges such as scheduling conflicts with other sports and the fragmentation of cable audiences prompted Penske Entertainment to seek a partner that could guarantee maximum exposure. Fox's offer, reportedly valued in the hundreds of millions over the multi-year term, includes commitments to promotional campaigns and cross-platform marketing, which were key factors in sealing the deal.

The implications of this partnership extend beyond broadcasting. For the Indianapolis Motor Speedway, a venue steeped in history since its inception in 1909, the Fox deal could drive increased attendance and sponsorship interest. IMS hosts not only the Indy 500 but also other events like the Brickyard 400 NASCAR race, and aligning with Fox could create synergies across Penske's properties. Penske Corporation, which owns multiple racing teams and automotive businesses, stands to benefit from the heightened visibility, potentially attracting new talent and investment to the sport.

Industry analysts are optimistic about the move's potential to revitalize IndyCar's profile in a crowded sports market. With Formula 1 gaining massive popularity in the U.S. thanks to Netflix's "Drive to Survive" and high-profile races like the Miami and Las Vegas Grands Prix, IndyCar has an opportunity to differentiate itself as the premier domestic open-wheel series. Fox's involvement could help bridge the gap, introducing IndyCar's unique blend of oval, street, and road course racing to fans who might otherwise overlook it. Moreover, the deal includes provisions for international distribution, potentially expanding IndyCar's global footprint through Fox's affiliates.

Looking ahead to 2025, the season opener in St. Petersburg is already generating buzz, with Fox promising innovative coverage elements such as enhanced graphics, drone footage, and driver cams to immerse viewers in the high-speed action. The Indy 500, scheduled for Memorial Day weekend, will be a focal point, with pre-race programming building anticipation through historical retrospectives and driver profiles. Penske Entertainment has also hinted at collaborative initiatives, such as fan events and merchandise tie-ins, to capitalize on the partnership.

This deal is not without its challenges. Some fans have expressed concerns about the shift from NBC's polished production style, but Fox has assured stakeholders of its dedication to quality. Additionally, the broader media rights landscape in motorsports is evolving, with streaming services like Netflix and Amazon vying for content, but Fox's broadcast-first approach positions IndyCar as a counterpoint to paywalled models.

In summary, the Fox-Penske Entertainment alliance represents a bold new chapter for IndyCar, promising greater accessibility, enhanced storytelling, and a renewed push for growth. As the 2025 season approaches, all eyes will be on how this partnership accelerates the series into a new era of prominence. With Roger Penske's visionary leadership and Fox's broadcasting prowess, the future of IndyCar looks faster and brighter than ever.

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Fox Acquires One- Third Stake In Penske Entertainment Owner Of Indycar Series

Fox Sports Secures Landmark Deal with Penske Entertainment for Exclusive IndyCar Series Broadcast Rights Starting in 2025