FOX Corporation Acquires Stake in Penske Entertainment: A New Era for IndyCar
In a significant move for motorsports, FOX Corporation has acquired a one-third ownership interest in Penske Entertainment, the parent company of the storied IndyCar Series and the Indianapolis Motor Speedway. Although specific financial details were not made public, this investment marks a pivotal moment for the future of IndyCar.
A Strategic Partnership
The announcement, released jointly by FOX and Penske Entertainment, signals a new chapter for both organizations. Roger Penske, Chairman of Penske Corporation, emphasized the importance of this partnership, highlighting the enduring trust and shared vision between the two parties. He remarked, “FOX recognizes the immense potential within our sport and is eager to play a vital role in enhancing our growth trajectory. Lachlan Murdoch and his team, led by Eric Shanks, are dedicated to our success and will infuse IndyCar with remarkable energy and innovative ideas.”
This partnership aims to solidify IndyCar’s future, focusing on advancements in racing technology, engaging content strategies, improved digital platforms, and the cultivation of driver personalities into household names. According to an official press release, this collaboration is set to bolster the IndyCar Series, ensuring its relevance and appeal to a broader audience.
Strengthening Media Rights and Broadcast Partnerships
In conjunction with the acquisition, FOX Sports has extended its media rights agreement with IndyCar for multiple years. This long-term commitment positions FOX Sports as the principal broadcast home for IndyCar, leveraging a successful 2025 season that has already demonstrated significant audience growth. Since becoming IndyCar’s broadcasting partner, FOX has reported record-setting viewership numbers, including a remarkable 41% increase in viewership for the Indianapolis 500, which attracted an average of 7.01 million viewers—the highest in nearly two decades. Overall, the season has seen an average increase of 31% in ratings year-over-year.
Eric Shanks, CEO and Executive Producer of FOX Sports, expressed excitement about joining the IndyCar ownership group. He stated, “IndyCar embodies everything we cherish about live sports—dedicated fans, iconic venues, elite competition, and endless storytelling opportunities throughout the year. This investment highlights our commitment to motorsports and our confidence in IndyCar’s growth both on and off the racetrack. We look forward to elevating the sport to new heights across various platforms.”
Expanding the IndyCar Experience
The future looks bright for IndyCar, with plans to expand its reach further. In 2026, the series will introduce a new street race through Arlington’s entertainment district in Texas, a groundbreaking collaboration with the Dallas Cowboys and Texas Rangers. This partnership represents a first in U.S. motorsports, emphasizing IndyCar’s commitment to innovation and community engagement. Moreover, the upcoming schedule is anticipated to include a race at the Autódromo Hermanos Rodríguez in Mexico City, further diversifying the series’ geographic footprint.
Since acquiring IndyCar and the Indianapolis Motor Speedway from the Hulman-George family in November 2019, Penske Entertainment has ushered in a new era for the sport. With FOX coming aboard as a stakeholder, IndyCar is poised for exciting developments in the coming years.
The inaugural race under this new management structure is scheduled to be the Grand Prix of Portland on Sunday, August 10, 2025. This event will serve as a launchpad for showcasing the revitalized IndyCar Series and its commitment to delivering thrilling racing experiences to fans.
The Future of IndyCar: Innovation and Engagement
As IndyCar gears up for a new chapter, the focus will be on innovation and enhancing fan engagement. The partnership with FOX Corporation is expected to bring significant resources and expertise to the table, allowing for the development of cutting-edge content and technology. This collaboration will likely include enhanced viewing experiences, interactive digital platforms, and immersive storytelling that engages fans year-round.
The investment from FOX also highlights the growing recognition of IndyCar as a key player in the motorsports landscape. With a dedicated fan base and a rich history, IndyCar has the potential to attract new audiences and sponsors, further solidifying its place in the competitive world of racing.
In addition to expanding its reach through new races and innovative content strategies, IndyCar will likely focus on cultivating its driver personalities. By promoting drivers as relatable figures, the series can create a deeper connection with fans, turning them into household names. This approach not only enhances the sport’s appeal but also fosters a sense of community among fans who rally behind their favorite drivers.
The Importance of Community and Fan Engagement
Engaging the community and fostering a sense of belonging among fans will be critical as IndyCar moves forward. The series has a unique opportunity to connect with audiences in innovative ways, whether through social media, interactive events, or fan-focused initiatives. By prioritizing fan engagement, IndyCar can create a more vibrant and loyal following, which is essential for the sport’s long-term success.
The new partnership with FOX is expected to play a key role in enhancing community engagement efforts. With FOX’s extensive reach and resources, IndyCar will have the opportunity to promote its events and initiatives to a broader audience. This partnership can help bridge the gap between the sport and its fans, making it more accessible and enjoyable for everyone involved.
The Road Ahead: Anticipating Future Developments
As the IndyCar Series navigates this exciting new chapter, several anticipated developments are on the horizon. The series is likely to continue exploring innovative race formats and event experiences that engage fans both at the track and at home. Additionally, the collaboration with FOX may lead to the introduction of new technologies that enhance the viewing experience, making it more interactive and engaging for fans.
Moreover, the expansion into new markets, such as the street race in Arlington, Texas, represents a strategic move to tap into new demographics and attract a diverse audience. This approach not only broadens the series’ reach but also revitalizes interest in motorsports, particularly among younger fans who may be drawn to the excitement of live racing events.
Furthermore, as IndyCar continues to grow and evolve, it will likely prioritize sustainability and environmental responsibility. The racing industry is increasingly focused on reducing its carbon footprint and promoting eco-friendly initiatives. By embracing sustainable practices, IndyCar can position itself as a leader in the motorsports community while appealing to environmentally conscious fans.
Conclusion
With FOX Corporation’s investment and the shared vision for growth, the IndyCar Series is on the brink of a transformative era. The collaboration promises to enhance the sport’s visibility, fan engagement, and overall experience, solidifying IndyCar’s place in the broader motorsports landscape. As the series prepares for its upcoming races and initiatives, the excitement surrounding IndyCar’s future is palpable, and the potential for growth is limitless.
