FOX Corporation Acquires Significant Stake in Penske Entertainment, Bolstering IndyCar's Future

Driving Towards a New Horizon: FOX and Penske Entertainment Forge a Powerful Alliance
A Landmark Investment for IndyCar's Progression
In a pivotal development for American motorsport, FOX Corporation has secured a one-third ownership interest in Penske Entertainment. While the financial specifics remain undisclosed, this substantial acquisition is poised to be a catalyst for the IndyCar Series' sustained expansion and evolution.
Synergy and Shared Objectives: Roger Penske's Vision
Roger Penske, Chairman of Penske Corporation, lauded the collaboration as a testament to shared aspirations for the sport's future. He emphasized FOX's deep understanding of IndyCar's immense potential and their eagerness to actively contribute to its growth trajectory. The partnership underscores a mutual commitment to advancing IndyCar, with key figures like Lachlan Murdoch and Eric Shanks bringing fresh energy and groundbreaking ideas to the table.
Innovating the Future of Racing and Fan Engagement
The core objective of this alliance, as outlined in the official announcement, is to invigorate IndyCar's future. This includes fostering advancements in racing technology, implementing captivating content strategies, upgrading digital platforms for a more immersive experience, and elevating driver personalities to achieve broader recognition.
Solidifying Broadcast Leadership: FOX Sports' Enduring Commitment
This agreement also cements FOX Sports' position as the long-term broadcasting partner for the series. This comes on the heels of an exceptionally strong 2025 season, which witnessed significant audience growth. The Indianapolis 500, in particular, achieved its highest viewership in 17 years, drawing an average of 7.01 million viewers, contributing to an impressive 31% year-over-year increase in overall season ratings.
A Vision for Expansion: New Venues and Continued Growth
Eric Shanks, CEO and Executive Producer of FOX Sports, expressed immense enthusiasm for joining IndyCar's ownership, highlighting the sport's passionate fanbase, legendary venues, and compelling competition. He affirmed that this investment reflects FOX's dedication to motorsports and their confidence in IndyCar's capacity for continued development, both on and off the track. A notable upcoming expansion includes a new street race in Arlington, Texas, in 2026, a pioneering joint venture with the Dallas Cowboys and Texas Rangers in U.S. motorsports. Additionally, the forthcoming schedule is anticipated to feature a race at the Autódromo Hermanos Rodríguez in Mexico City.
IndyCar's Next Chapter: From Acquisition to Innovation
Penske Entertainment initially took ownership of IndyCar and the Indianapolis Motor Speedway in November 2019 from the Hulman-George family, marking a significant turning point. Now, with FOX joining its ranks, IndyCar is poised to embark on its most exciting phase yet. The first event under this strengthened leadership will be the Grand Prix of Portland, scheduled for Sunday, August 10.