Chip Ganassi gives his opinion on Roger Penske unexpectedly selling a third of IndyCar to FOX

Last month, it was announced that Roger Penske had sold a one-third stake in Penske Entertainment to FOX Sports out of the blue. While this announcement received varying reactions from the paddock, Chip Ganassi Racing owner Chip Ganassi shared his approval of the sale when questioned about it.

FOX Sports replaced NBC as the exclusive broadcaster for the IndyCar races across the United States heading into the 2025 season. While it arrived with the hopes of bringing a larger audience owing to the vastly popular commercials, it got strangled with streaming issues earlier in the season.

However, the broadcast quality improved over the following few race weekends and capitalized on the hype of the Indy 500 after recording the highest viewership in 17 years. This helped change the tide of opinion in Roger Penske's camp, as a deal was soon struck to sell off one-third equity in Penske Entertainment to FOX Sports.

This decision was supposed to be more than a simple equity sale, as members within the paddock soon shared their take. With the larger sentiment remaining in favor of the deal, Chip Ganassi also followed in line and shared how the Penske-led organization showcased its desire for the sport to grow, as he said in an interview with David Land:

"Well, I think it answers a lot of questions that maybe were up in the air about in terms of the Penske organization and what they're interested in long term. Is it was it just a five-year "private equity play" or is it? But no, I think with them bringing in Fox, I think it alleviates that and says, "Look, they're in it for the long term"." (8:00 onwards)

"And, anytime you can get hooked up with the Murdoch family, and they they sort of understand media and as I was quoted as saying, I think Fox brings the entertainment to Penske Entertainment and so that's what I'm most excited about is I think they'll bring a perspective that I think is needed in the sport and they understand sports. They understand sports television obviously. So we're looking forward to some exciting things."

With FOX Sports buying a one-third share in IndyCar, it is set to continue as the exclusive broadcaster for the racing series in the United States for the foreseeable future.

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Roger Penske feels IndyCar and FOX Sports have a shared vision for the future

Founder of Penske Corporation, Roger Penske - Source: Getty

Roger Penske bought IndyCar and the IMS from the Hulman-George family in 2019. After that, he has had to contend with various challenges, but he has prevailed.

So, when the opportunity of partnering up with FOX Sports arose, he understood the long-term vision for the sport's growth between the two parties, and allowed them to become a shareholder in the sport and the IMS.

"This partnership 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," Roger Penske said (via FOX Sports).

Meanwhile, the last race of the 2025 season is scheduled to take place on August 31, with FOX Sports broadcasting the race on Sunday, while FS2 will stream the earlier segments of the weekend.