Fox Corporation has acquired a one-third ownership stake in Penske Entertainment, the group that manages the NTT IndyCar Series and the Indianapolis Motor Speedway, marking a significant step for the future of North America’s premier open-wheel racing. The announcement was made on Thursday, signaling a strategic investment aimed at expanding the sport’s growth, audience, and media presence.
This acquisition, described as the “IndyCar Series Fox Investment,” brings Fox deeper into the motor racing world just months after securing the rights to broadcast IndyCar races. The partnership is expected to advance innovative racing events, enhance digital engagement, and increase promotional efforts for IndyCar drivers.
Details of the Partnership and Broadcast Expansion
Alongside Fox’s new ownership share, the companies agreed on extending their existing media rights contract for multiple seasons. Having begun as the official broadcaster earlier this year, Fox Sports has already driven noticeable gains in viewership, surpassing ratings from Comcast NBC’s previous coverage. The 2025 Indianapolis 500 drew an average of 7.01 million viewers, a 41 percent rise from the prior year and the highest in 17 years. Overall, the current IndyCar season has seen a 31 percent increase in audience numbers compared to 2024.
Roger Penske, chairman of Penske Entertainment, expressed strong confidence in the new arrangement. He said,
“This partnership is built on long-standing trust and a shared vision for the future,”
adding,
“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’s Commitment to IndyCar’s Growth Across Platforms
Eric Shanks, CEO and Executive Producer of Fox Sports, emphasized the company’s excitement about joining the IndyCar ownership group. He remarked,
“We’re thrilled to join the INDYCAR ownership group at such a pivotal time for the sport,”
and added,
“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.”
The combined expertise and resources of Fox and Penske Entertainment are expected to fuel expanded digital initiatives, which have already seen IndyCar launch a new mobile app, revamped website, and a fantasy racing platform. The series also recently amassed 1 million new followers across social media channels, highlighting growing fan interest.
Record Audiences and New Racing Ventures
IndyCar has experienced a surge in event attendance in 2025, including sell-out crowds at the Indianapolis 500, which attracted over 300,000 spectators—the largest single-day sporting crowd globally. The Indianapolis Motor Speedway, owned by Penske Entertainment, is a historic venue with the highest seating capacity worldwide and long-standing racing prestige.
The IndyCar calendar is also set to expand with the announcement of a new race event in 2026 through a unique partnership involving the Dallas Cowboys and Texas Rangers. This race will take place in Arlington’s entertainment district, enhancing the series’ footprint in key urban markets.
IndyCar’s Unique Position in North American Motorsport
The NTT IndyCar Series remains the only major motorsport in North America to have every race broadcast on U.S. network television. It features a diverse and international group of drivers competing across a variety of circuits, including superspeedways, short ovals, street courses, and permanent road tracks. The season continues with the Grand Prix of Portland scheduled for Sunday, August 10, at 3 p.m. ET, broadcast live on FOX.
Industry observers note that Fox’s investment is part of a larger trend where media companies are deepening their collaborations with sports leagues beyond traditional broadcast rights deals. This shift reflects sports content’s growing significance in attracting audiences, boosting revenue streams, and fostering fan loyalty across both linear and streaming platforms.
Looking Ahead: Impact and Future Prospects
With Fox Corporation now a key stakeholder, the IndyCar Series is poised for a new chapter of expansion and innovation. The partnership is expected to solidify IndyCar’s media presence, introduce fresh entertainment elements, and improve fan engagement across digital channels. For Roger Penske’s organization and Fox Sports, this investment signals a shared commitment to elevating one of the most competitive motorsports in the world, ensuring sustained growth and increased visibility in North America and beyond.
As the series evolves, drivers, teams, and fans alike can anticipate broader exposure, more compelling content, and enhanced opportunities to connect with the sport throughout the racing season and beyond.
