FOX Corporation has bought an interest in Penske Entertainment, the parent company of INDYCAR, the sanctioning body announced July 31.
The move gives FOX, the current broadcast partner of the NTT IndyCar Series, one-third interest in the company, which also owns and operates Indianapolis Motor Speedway.
Concurrent with the announcement, FOX has extended in a multiyear media rights agreement as the series’ broadcaster.
“This partnership is built on long-standing trust and a shared vision for the future,” Penske Entertainment’s Roger Penske said in a release. “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 [FOX Sports CEO], are committed to our success and will bring incredible energy and innovation to INDYCAR.”
“We’re thrilled to join the INDYCAR ownership group at such a pivotal time for the sport,” Eric Shanks 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.”
FOX began its role as the IndyCar Series’ TV partner beginning in 2025.
Kevin Rutherford is the executive editor of Frontstretch, a position he gained in 2025 after being the managing editor since 2015, and serving on the editing staff since 2013.
At his day job, he's a journalist covering music and rock charts at Billboard. He lives in New York City, but his heart is in Ohio -- you know, like that Hawthorne Heights song.