Fox acquires 1/3 interest in Penske Entertainment, including IndyCar
May 24, 2025; Indianapolis, IN, USA; IndyCar Series president Roger Penske at the drivers meeting during Legends Day at Indianapolis Motor Speedway. Mandatory Credit: Mark J. Rebilas-Imagn Images Fox Sports on Thursday acquired a one-third interest in Penske Entertainment, owner of the IndyCar Series and Indianapolis Motor Speedway.
The announcement also included a multi-year extension of IndyCar's media rights deal with Fox.
Financial terms off the deal were not disclosed. A Wall Street Journal report valued the stake between $125 and $135 million.
"This partnership is built on long-standing trust and a shared vision for the future," said Roger Penske, the founder and chairman of the Penske corporation. "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 the IndyCar media rights in June 2024, starting with the 2025 season. This year's Indianapolis 500 averaged 7.01 million viewers on Fox, a 41 percent increase over the previous year.
The deal between a media company and its racing partner is similar to Liberty Media's purchase of a controlling interest in Formula One in 2017.
--Field Level Media
- MLB Predictions and Best Bets for Saturday's Biggest Games
- UFC Vegas 118 Betting Picks: Three Fights to Target on Saturday Night
- MLB Picks Today: Two Pitchers Set Up To Fall Short On Outs Props
- MLB Pitcher Props Today: Best Bets for June 3rd
- NBA Finals Game 1 Best Bets: Knicks vs. Spurs Predictions and Player Props
- Stanley Cup Final Game 1 Best Bets: Hurricanes vs. Golden Knights Picks
- Knicks vs. Spurs Game 1 Props: Three Best Bets for the NBA Finals
