What McLaren CEO Zak Brown Thinks Of FOX Acquiring A Third Of IndyCar
On August 31, IndyCar announced that partner as FOX purchased a one-third stake in Penske Entertainment including IndyCar, the Indianapolis Motor Speedway, INDY NXT by Firestone and IMS Productions. In addition, FOX Sports media rights partnership with IndyCar and the Indianapolis 500 has been extended.
The deal is worth between $125 million to $135 million and gives Penske Entertainment the opportunity to grow and expand IndyCar awareness through additional marketing and promotion.
FOX Sports is in its first season as the broadcast partner for the NTT IndyCar Series.
Zak Brown Incredibly Impressed
In addition to owning the McLaren Racing Formula One team, Brown and McLaren also own the Arrow McLaren IndyCar team featuring drivers Pato O'Ward of Monterrey, Mexico, Christian Lundgaard of Hedensted, Denmark, and Nolan Siegel of Palo Alto, California.
Brown has been incredibly impressed with FOX Sports' promotional and marketing efforts regarding IndyCar, especially the enthusiasm of FOX Sports CEO Eric Shanks.
'The news today on FOX's acquisition and investment into the NTT IndyCar Series is very positive for everyone involved,' Brown said after the announcement. 'They believe in the series and its potential, and they've already shown the marketing power they can bring to grow the sport and its exposure to new fans.
'Eric (Shanks) and I have had many conversations on his ideas to broadcast and promote IndyCar, and there will be a lot of exciting things to look forward to. With this new enhanced commitment with FOX, I'm more confident than ever in where the series is heading into 2026 and beyond.'
This deal may seem unique because Penske gives up an ownership stake in the company that owns IndyCar, the Indianapolis Motor Speedway and the Indianapolis 500, but he does not give up control.
When Liberty Media purchased Formula One in 2017, it acquired ownership control of the international racing series. FOX has a large stake in IndyCar and will be actively involved in helping to grow the series, but the ultimately control remains with Penske.
In other sports, Disney's ESPN is involved in discussions with the National Football League involving a 10 percent stake in ESPN, in return for the NFL Network and RedZone Channels, according to numerous media reports.
FOX Sports owns the United Football League (UFL) and is involved with the Big Ten, including ownership of the Big Ten Network.
Warner Brothers, Discovery has an ownership stake in professional three-on-three women's basketball league, Unrivaled.
Although Penske said he wasn't looking for additional capital, FOX's one-year improvement in viewership, including 7.1 million viewers for this year's Indianapolis 500, created interest when he was approached by FOX.
With Shanks and FOX providing bold vision, it gives IndyCar an opportunity to work on new events, sponsorship opportunities and increasing on site attendance at race tracks on the schedule.
That is exactly what McLaren's Zak Brown has wanted.
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