Fox Corporation and Penske Entertainment made a landmark announcement on Thursday morning, as FOX has acquired a one-third interest in Penske Entertainment, related to INDYCAR and Indianapolis Motor Speedway.
The move comes with the intention of having high-profile racing and entertainment events, prioritizing quality digital content and having more promotion of the NTT INDYCAR Series and its drivers.
“This partnership is built on long-standing trust and a shared vision for the future,” team owner Roger Penske said in a statement. “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.”
Josef Newgarden (Team Penske) and Team Owner Roger Penske after the 2024 Indy 500
Penske Entertainment, a subsidiary of Penske Corporation, is a primary provider of sports and entertainment. It operates in a range of fields, including professional motorsports, truck leasing and transportation logistics. Penske Entertainment has more than 3,300 locations.
“We’re thrilled to join the INDYCAR ownership group at such a pivotal time for the sport,” FOX Sports CEO & Executive Producer Eric Shanks said in a statement. “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.”
This news comes against the backdrop of FOX Sports agreeing to a multi-year extension to maintain exclusive INDYCAR media rights.
The current 2025 INDYCAR season is the first year of the sport’s respective races airing on FOX networks. At present, the sport is averaging a 31% increase in viewership year-over-year.
This year’s running of the Indianapolis 500, which was won by Alex Palou, averaged 7.01 million viewers, which was a 41% increase from 2024 and a 17-year-high. The race also had more than 300,000 fans present.
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Team Penske
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