Roger Penske’s ownership of the Indianapolis Motor Speedway, the Indianapolis 500, NTT INDYCAR SERIES and all of their ancillary operations has been diluted today, with one-third of Penske Entertainment, the umbrella corporation for Penske’s Indy-related properties sold to the Murdoch Family’s Fox Corporation.
The news is promoted as “an investment in the future of North America’s premier open-wheel racing series,” the announcement stated. The parent company of FOX Sports, FOX’s investment is expected to advance “innovative and industry-leading racing and entertainment events, a hyper-engaged digital strategy and immersive content focus; enhanced promotion and star-building opportunities for NTT INDYCAR SERIES drivers,” as well as including a multi-year extension of INDYCAR’S media rights with FOX Sports.
Roger Penske, who has both driven and owned race cars, teams and, most recently the Speedway and the INDYCAR series, noted the complementary views of both Penske Entertainment and FOX. “This partnership,” he said, “is built on long-standing trust and a shared vision for the future. FOX sees the incredible potential across our sport and wants to play an active role in building our growth trajectory. [Rupert Murdoch’s son] Lachlan Murdoch and his team, starting with Eric Shanks, are committed to our success and will bring incredible energy and innovation to INDYCAR.”
FOX Sports acquired access to INDYCAR’s media rights for the current, 2025 season. Its inherent media reach allowed a 41 percent increase year-over-year for the Indianapolis 500, with an average of 7.01 million viewers tuning into the FOX network broadcast. The number marked a 17-year high. Thus far, with three races yet to run, the series is averaging a 31-percent increase in viewership, year over year. At Indy this year, there was a seating sellout, not witnessed since the 100th running of the Indy 500 in 2016.
Eric Shanks, the CEO and executive producer at FOX Sports said that, “INDYCAR represents everything we value in live sports: passionate fans, iconic venues, elite competition and year-round storytelling potential. This investment,” he stressed, “underscores our commitment to motorsports and our belief in INDYCAR’s continued growth, both on and off the track. We’re excited to help elevate the sport to new heights across all platforms,” particularly at this pivotal time for racing.
In its more recent history, INDYCAR has enjoyed rising attendance and some record crowds. The series has invested heavily in digital growth to complement these successes, launching a new mobile APP, web site and fantasy platform, while also generating 1 million new social followers, they said. As noted earlier in the year, the series adds a new showcase event in the early part of its 2026 season, racing through Arlington, TX’s entertainment district with a joint venture, working with both the Dallas Cowboys and Texas Rangers football and baseball teams, respectively.
INDYCAR touts its presentation of all races on FOX’s broadcast network. As part of Penske Entertainment, the Indianapolis Motor Speedway (IMS) is the home of the largest single-day spectator sporting event on Earth, the Indianapolis 500, which regularly attracts in excess of 300,000 on the Sunday before Memorial Day. In addition to hosting INDYCAR, IMS also welcomes other series to participate on its hallowed grounds; NASCAR recently completed its annual Brickyard 400, won 23XI’s Bubba Wallace just a week ago. It also hosts other open-wheel, motorcycle, sports car and strictly entertainment events.
Penske Entertainment is noted for its world-class sports and entertainment; it is a subsidiary of Penske Corporation, a closely-held, diversified, on-highway, transportation services company with subsidiaries that operate in a variety of industry segments. The corporation’s consolidated revenues total more than $45 billion; it employs more than 73,000 people worldwide. FOX is strictly a sports, entertainment and news entity; its FOX Sports represents the corporation on a wide variety of US-based sports assets capable of reaching more than 100 million viewers in a single weekend, it stated.
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