Sign up for free

  • Get quick access to your favorite articles

  • Manage alerts on breaking news and favorite drivers

  • Make your voice heard with article commenting.

Edition

Global Global

FOX Corporation acquires one-third stake in IndyCar owner Penske Entertainment

In a statement, the investment was touted by Roger Penske as “a shared vision for the future” of IndyCar

Pyrotechnics are ignited during race start

Pyrotechnics are ignited during race start

Photo by: Brandon Badraoui / Motorsport Images via Getty Images

FOX Corporation has acquired a one-third ownership stake in Penske Entertainment, the parent company of IndyCar and the iconic Indianapolis Motor Speedway. Financial terms were not disclosed.

The announcement, made jointly on Thursday by Penske Entertainment and FOX, marks a significant investment in the continued growth of the IndyCar Series and coincides with a multi-year extension of IndyCar’s media rights agreement with FOX Sports.

“This partnership is built on long-standing trust and a shared vision for the future,” said Roger Penske, Chairman of 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.”

The deal is meant to bolster IndyCar’s future, with a renewed focus on racing innovation, immersive content strategies, enhanced digital platforms, and the development of driver personalities as household names, according to the official press release.

It also solidifies FOX Sports as the long-term broadcast home of the series, capitalizing on a 2025 season that has already shown substantial audience growth.

FOX became IndyCar’s broadcast partner in 2025 and has delivered record-breaking results, including a 41% increase in viewership for the Indianapolis 500, which averaged 7.01 million viewers — the highest in 17 years. Overall, the season is averaging a 31% year-over-year increase in ratings.

“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.”

In 2026, the series will further expand its footprint by adding a new street race through Arlington’s entertainment district in Texas, created in partnership with the Dallas Cowboys and Texas Rangers — a first-of-its-kind collaboration in U.S. motorsports. The schedule, yet to be released, is also expected to include a race at the Autódromo Hermanos Rodríguez in Mexico City.

Penske Entertainment first acquired IndyCar and the Indianapolis Motor Speedway from the Hulman-George family in November 2019. That purchase marked a new era for the sport, and now, with FOX coming on board, IndyCar appears poised for its next chapter.

The first race under this new management will be the Grand Prix of Portland on Sunday, August 10.

Read Also:
In this article
Be the first to know and subscribe for real-time news email updates on these topics
Previous article Alex Palou will not play it safe in Portland to secure the championship
Next article Alex Palou claims FOX’s investment will be “huge” for IndyCar

Top Comments

Recommended for you

Denny Hamlin fires back after Mamba Smith's Daytona prank in viral X social media exchange

Denny Hamlin fires back after Mamba Smith's Daytona prank in viral X social media exchange

NASCAR Cup
Daytona II
Denny Hamlin fires back after Mamba Smith's Daytona prank in viral X social media exchange
Ryan Blaney responds to Alex Bowman's promise of "seven million beers" with counter-offer

Ryan Blaney responds to Alex Bowman's promise of "seven million beers" with counter-offer

NASCAR Cup
Daytona II
Ryan Blaney responds to Alex Bowman's promise of "seven million beers" with counter-offer
Leigh Diffey confronts criticism after Daytona regular season finale

Leigh Diffey confronts criticism after Daytona regular season finale

NASCAR Cup
Daytona II
Leigh Diffey confronts criticism after Daytona regular season finale
Alexander Rossi thrilled for ECR’s Milwaukee success after “missed opportunities”

Alexander Rossi thrilled for ECR’s Milwaukee success after “missed opportunities”

IndyCar
Milwaukee
Alexander Rossi thrilled for ECR’s Milwaukee success after “missed opportunities”
Denny Hamlin says Bubba Wallace at fault for pileup crash: "Not clear"

Denny Hamlin says Bubba Wallace at fault for pileup crash: "Not clear"

NASCAR Cup
Daytona II
Denny Hamlin says Bubba Wallace at fault for pileup crash: "Not clear"
Christian Rasmussen steals maiden IndyCar win after late weather caution

Christian Rasmussen steals maiden IndyCar win after late weather caution

IndyCar
Milwaukee
Christian Rasmussen steals maiden IndyCar win after late weather caution
Winners and losers from an unbelievable NASCAR Cup finish at Daytona

Winners and losers from an unbelievable NASCAR Cup finish at Daytona

NASCAR Cup
Daytona II
Winners and losers from an unbelievable NASCAR Cup finish at Daytona
Pedro Acosta owns up to qualifying “mess”, admits need to “cool down”

Pedro Acosta owns up to qualifying “mess”, admits need to “cool down”

MotoGP
Hungarian GP
Pedro Acosta owns up to qualifying “mess”, admits need to “cool down”

Sign up for free

  • Get quick access to your favorite articles

  • Manage alerts on breaking news and favorite drivers

  • Make your voice heard with article commenting.

Edition

Global Global
Filters