IndyCar CEO says Fox Sports media rights agreement will give series more exposure

IndyCar was offered more money by a different bidder than it got from Fox Sports but made the switch from NBC Sports because Fox’s deal gave the series the most exposure, according to CEO Mark Miles. The property is moving to Fox next year after NBC held full-season rights since 2019.

Fox and IndyCar never announced terms of their deal, and some industry sources have questioned privately in recent weeks whether IndyCar received an increase in the value of its rights. The property had been receiving around $20M in revenue annually from NBC.

All 18 races will air on the same channel, Fox, instead of an approach from NBC that would have likely featured more of a mix between NBC, USA Network and Peacock.

In an interview this week, while not revealing specifics, Miles said, “We did not do the deal which would have afforded us the greatest rights fee. This is the deal that made economic sense but more so was far and away the greatest reach, and that — you could think about it as our willingness to invest by taking less for the growth of the sport through the greater reach.”

Miles did not confirm who offered more money. But as the incumbent, NBC was said to be open to continuing with IndyCar with the right deal. IndyCar’s $20M haul for annual domestic media rights compares to $75-90M for F1 and $820M for NASCAR (NASCAR’s will go up to $1.1B next year).

Still, Miles said IndyCar “couldn’t be more excited and more confident in the decision and relationships that we’ll develop – Fox Sports is going to help grow this sport.” He said Fox executives are excited by the series’ new race coming in 2026 with the Grand Prix of Arlington, which involves the Cowboys and Rangers, teams that play in two leagues that both have deals with Fox in the NFL and MLB.

He expects Fox to promote the race during the Cowboys-Lions game this weekend, “and there are significant plans being developed for how does their broadcast of the Super Bowl in New Orleans create opportunities for us to be integrated into some of those promotions.” He said that work is not just being done promotionally but also on the look and feel of the presentation of the broadcast with production and graphics.

“Every day something new happens that is reaffirming of what a great partner they’re going to be.”