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NTT IndyCar Series Reportedly Nearing Media Rights Deal with FOX Sports

The NTT IndyCar Series, which includes the Indianapolis 500 and other races throughout the year, is reportedly closing in on signing a media rights deal with FOX Sports, according to a new report from Adam Stern of Sports Business Journal. The deal is reportedly expected to be announced “within days,” a development that comes after IndyCar expert Tony Donohue reported that FOX Sports offered IndyCar a complete network television package starting with the 2025 season and beyond. Potential occupants for IndyCar Rights are said to have been down to FOX and NBC in recent weeks, the latter of which is in the final year of its three-season contract with the open-wheel car racing league.

Terms of the agreement remain unknown, but it has been reported that IndyCar was looking to have one partner for its full season within its forthcoming media rights cycle. If this ends up being the case, it would presumably end the property’s relationship with NBC following the conclusion of the racing season in September. Penske Entertainment owns the NTT IndyCar Series, which attains a reported $20 million per year in media rights fees from NBC Sports.

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News of the reported agreement between IndyCar and FOX Sports comes after the Indianapolis 500 averaged 5.34 million viewers on NBC and Peacock despite a four-hour weather delay. The broadcast marked the largest audience for the Indy 500 in the last three years and was also up 8% year-over-year from the 2023 iteration of the race.

INDYCAR removed the local blackout of the race in Indianapolis, Ind. and secured an 18.15 household rating and 54 share in the locale. The first six races of the 2024 IndyCar season averaged a total audience delivery of 1.95 million viewers, five of which were televised on NBC while the other one was on USA Network.

NASCAR announced new seven-year media rights deals with FOX Sports, NBC Sports, Amazon’s Prime Video and Warner Bros. Discovery beginning in 2025, collectively worth a reported total of $7.7 billion. FOX Sports will no longer air the NASCAR Coca-Cola 600 on Memorial Day weekend because of how the new NASCAR media rights deal is structured, with the race moving to Prime Video.

Media rights for Formula 1 are currently held by ESPN and expire following the 2025 racing season, and there is reported interest from Apple to bid $2 billion per year for exclusive global rights to the property. FOX Sports previously broadcast Formula 1 races through its SPEED Network for 17 years through the conclusion of the 2012 season.

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