Fox secures a third of ownership in IndyCar's parent company
Fox Corporation's Strategic Investment in IndyCar: A Game-Changer for Open-Wheel Racing
Fox Corporation has made a significant move in the auto racing industry by acquiring a one-third stake in Penske Entertainment, the company that oversees INDYCAR and the Indianapolis Motor Speedway. This strategic investment is aimed at supercharging growth and innovation in the NTT INDYCAR SERIES [1][2][3][4].
The partnership between Fox Corporation and Penske Entertainment is expected to spearhead innovative racing and entertainment events, a heightened digital strategy, immersive content focus, enhanced promotion, and star-building opportunities for IndyCar drivers. Fox Sports has secured a multi-year contract extension for its media rights deal with IndyCar [2][3].
Key elements of this strategy include extending INDYCAR’s media rights with Fox Sports for multiple years, securing broad and innovative broadcasting coverage. Fox is investing in industry-leading racing and entertainment events to invigorate the sport's appeal and fan engagement. They are developing a hyper-engaged digital strategy and immersive content focus to modernize how fans experience events, likely increasing reach especially among younger and digital-native audiences [1][2][3][4].
The media exposure and promotional resources brought by Fox are already reflected in a significant recent uptick in viewership. For example, the 2025 Indianapolis 500 reported a 41% increase in ratings and a 17-year high, with the overall 2025 season averaging a 31% year-over-year viewership increase [2]. This bodes well for drivers gaining visibility and fan bases. Increased media attention and digital engagement are expected to boost the marketability of drivers, potentially leading to improved sponsorship and commercial opportunities.
For the auto racing industry more broadly, Fox’s investment signals renewed confidence and investment in open-wheel racing in North America. This could pressure competitors and other series to innovate and enhance their own media and fan engagement strategies. The partnership between a major media corporation and a dominant motorsport entity suggests greater integration of traditional motorsports with modern digital entertainment trends, potentially leading to broader industry shifts in how racing content is produced, distributed, and monetized.
All races of IndyCar are now broadcast on Fox, making it the only series in the United States that does not air any of its events on cable. The Indianapolis 500 on Fox this year averaged 7.01 million viewers, a 41% increase over last year and a 17-year high. The sale to Fox gives some clarity to the succession plan for Penske, who owns Penske Entertainment. Lachlan Murdoch and his team, including Eric Shanks, are committed to the success of IndyCar and are expected to bring incredible energy and innovation to the sport.
Roger Penske, owner of Penske Entertainment, stated that the partnership is built on long-standing trust and a shared vision for the future. The sale to Fox does not include Penske's race teams, transportation business, or dealerships. Fox has acquired a 33% stake in Penske Entertainment, the company that owns the Indianapolis Motor Speedway and IndyCar. Penske's sons, Roger Jr. and Greg, are involved in the racing entities of Penske Entertainment. Fox Corp. and Post parent parent News Corp share common ownership.
In summary, Fox’s acquisition stake is a strategic, multifaceted move to elevate INDYCAR’s profile and commercial success, with expected positive ripple effects for drivers and innovation within the auto racing industry [1][2][3][4].
- The Fox Corporation's investment in IndyCar racing, through Penske Entertainment, is anticipated to lead to an increase in innovative sports and entertainment events, aimed at captivating a broader audience and enhancing the overall fan experience.
- The media strategy of Fox Sports extends beyond IndyCar, as they aim to modernize content delivery and engage digitally-native audiences, with the intention of boosting the marketability of racing drivers and attracting increased sponsorship opportunities.
- As a result of the strategic partnership between Fox Corporation and Penske Entertainment, the auto racing industry, and specifically open-wheel racing in North America, may experience a shift in its media and fan engagement strategies, potentially mirroring modern digital entertainment trends.
