Fox and IndyCar have seemed happy with their partnership in year one of their new television rights deal. And that partnership is about to get much, much stronger.
It was announced on Thursday that Fox is acquiring a 33 percent stake in the American open-wheel racing series from Roger Penske and Penske Entertainment. The legendary racecar owner bought the series as well as Indianapolis Motor Speedway from the Hulman family in 2019.
Fox has taken the bold step of airing every IndyCar race on network television this year, including their airing of the Indianapolis 500 for the first time. Ratings have gone up, but there have been questions hanging over the series from fans over promotion of races, attendance, and the race calendar.
But this investment from Fox will go a long way in securing the long-term future of the IndyCar series, especially when it comes to the broadcast perspective. Both Roger Penske and Fox Sports CEO Eric Shanks were filled with praise for the other side in the official announcement.
“This partnership is built on long-standing trust and a shared vision for the future,” Roger Penske said. “FOX sees the incredible potential across our sport and wants to play an active role in building our growth trajectory. Lachlan Murdoch and his team, starting with Eric Shanks, are committed to our success and will bring incredible energy and innovation to INDYCAR.”
FOX Sports acquired INDYCAR’s media rights in 2025, bringing fresh promotional resources and significantly larger reach to the NTT INDYCAR SERIES. This year’s Indianapolis 500 on FOX averaged 7.01 million viewers, a 41 percent increase over the previous edition and a 17-year high. So far, the 2025 NTT INDYCAR SERIES season is averaging a 31 percent increase in viewership year-over-year.
“We’re thrilled to join the INDYCAR ownership group at such a pivotal time for the sport,” said Eric Shanks, CEO & executive producer, FOX Sports. “INDYCAR represents everything we value in live sports — passionate fans, iconic venues, elite competition and year-round storytelling potential. This investment underscores our commitment to motorsports and our belief in INDYCAR’s continued growth on and off the track. We’re excited to help elevate the sport to new heights across all platforms.”
What immediately stands out is the Fox pledge to further promote the series. Given their huge audiences throughout the NFL season and for other sporting events like the World Series and Daytona 500, any cross-promotion IndyCar gets is going to be huge. With an official ownership stake, those already existing efforts are going to likely be multiplied many times over.
What will also be fascinating to see is how IndyCar faces any foundational changes. Fans have been clamoring for more entertainment during races, specifically visiting more ovals that have disappeared from the calendar in recent years.
IndyCar’s international open-wheel racing competition in Formula One is still looking for an American television rights deal with Apple looking like the most likely option. If that series goes fully behind a paywall, the accessibility and availability of IndyCar and their unique relationship with Fox could be a more attractive option for race fans.
Whatever the future for IndyCar holds, the investment from Fox is a huge deal for the sport, which now has a brighter outlook than it has in quite some time.
About Matt Yoder