IndyCar is in the process of finalizing a media rights agreement with Fox Sports

The NTT IndyCar Series is on the verge of finalizing a new media rights deal with Fox Sports, with an official announcement expected in the coming days. The series has been under the Comcast-owned NBC Sports Group for several years, with NBC holding full-season rights since 2019. The current agreement with NBC is set to expire in 2024, prompting IndyCar to seek new partners for the 2025 season and beyond. The options were narrowed down to NBC and Fox, with the latter emerging as the likely candidate.

While the specifics of the deal between Fox and IndyCar remain unclear, the series has been searching for a single full-season partner for its next cycle. This would mean the end of the current relationship with NBC, which has been a broadcasting partner for IndyCar. The series, which is owned by Penske Entertainment, receives approximately $20 million a year in gross media rights from NBC Sports, with IMS Productions collaborating on the broadcasts. Penske Entertainment’s President & CEO, Mark Miles, has expressed optimism about the increased value of the media rights in the new agreement.

The negotiations have been guided by consultants Karen Brodkin from Endeavor and Hillary Mandel from IMG Media. Fox and IndyCar have not provided any comments regarding the ongoing discussions, and NBC has not responded to inquiries about the potential changes. Penske Entertainment, the parent company that also owns the iconic Indianapolis Motor Speedway, is looking towards a new era of broadcasting partnerships for the IndyCar series. As a consequence of NASCAR’s new media rights deals, Fox will no longer show the Coca-Cola 600 on Memorial Day weekend, leaving room for the Indianapolis 500 to potentially fill that slot. This story is still developing and updates will follow as more information becomes available.