By: Spencer Neff
July 31, 2025

On Thursday morning, Fox Corporation announced it has acquired a one-third stake in Penske Entertainment, parent company of INDYCAR and the Indianapolis Motor Speedway.

This deal comes as FOX Sports completes its first year as US Television rights holder.

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

“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.”

Future plans for the series include the 2026 debut of a street course race in Arlington, Texas. 2025 also gave INDYCAR its highest television rating for the Indianapolis 500 (7.01) since 2008. Television viewership for the NTT INDYCAR SERIES is up 31 percent year-over-year.

“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.”