Penske Entertainment and Fox Corporation, the parent company of FOX Sports, have announced a major partnership with FOX acquiring a one-third interest in Penske Entertainment, which includes the prestigious IndyCar Series and the iconic Indianapolis Motor Speedway.
This landmark deal marks FOX's transition from solely a broadcaster and media partner to a part-owner of some of North America's most historic and popular motorsports properties. Alongside this acquisition, FOX also secured a multi-year extension of IndyCar's media rights, ensuring that FOX Sports will continue to deliver live coverage and expanded programming around the sport.
Team owner Roger Penske, whose company owns Penske Entertainment, emphasized the mutual trust and shared vision driving this partnership. FOX shows strong commitment to growing the sport’s reach and engaging fans with innovative digital content and enhanced promotion of drivers.
FOX Sports CEO Eric Shanks highlighted the excitement of joining the IndyCar ownership group at a pivotal moment, noting the series' passionate fanbase, iconic venues, and thrilling competition as core reasons for the investment. FOX plans to leverage its media platforms and resources to elevate IndyCar and the Indianapolis Motor Speedway to new heights, driving increased visibility, fan engagement, and commercial growth.
This strategic partnership aims to accelerate a new era of growth around the NTT IndyCar Series through combined strengths in content creation, event innovation, marketing, and digital strategy. The involvement of FOX is expected to bring fresh energy and innovation to the series while respecting its rich heritage.
Overall, FOX's acquisition of a one-third stake in Penske Entertainment represents a significant shift in North American motorsport, aligning a leading media company intimately with a premier racing organisation to foster expansion and success on and off the track.
