What Fox learned from its botched UFC deal that sparked a multi-million dollar stake purchase in Penske Entertainment

Fox Corporation recently announced the acquisition of an interest in Penske Entertainment, which previously solely owned the NTT series. This will give Fox better control over promoting the various races and events.

Fox Corporation recently released a statement announcing its one-third purchase of a stake in IndyCar's parent company. This purchase will not just help Fox with its broadcast but also promote the series and drivers via various digital content and events. It also allows Fox partial ownership of Indianapolis Motor Speedway, which was previously solely owned by Penske Entertainment.

According to the Wall Street Journal, the purchase was between $125 million and $135 million. The news came after Fox extended its exclusive rights to broadcast the IndyCar series after it saw a spike in 31% viewership.

Fox Corporation's purchase of a share in IndyCar's parent company secures its broadcast rights and works as a safety net. Fox had previously signed a deal with UFC for broadcasting and made it into a multi-million-dollar company. However, the series parted ways with the broadcasting company after signing with ESPN, and Fox does not want to repeat that mistake.

This season was Fox's first year as the official broadcast partner. They broadcast the Indianapolis 500 for the first time and had seven million views, a 41% rise in viewership compared to the broadcast done last May. With this deal, Fox Corporation continues to grow IndyCar.

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IndyCar insider speaks about Team Penske's performance this season as its 'dry spell' continues

Team Penske has been one of the most successful teams in the past few years in IndyCar history, but the past few seasons tell a different tale. The Mooresville-based team has struggled to challenge its rivals over the past three seasons.

So far in the 2025 season, the team has had only four opportunities to stand on the podium but has not been able to score a single win. While answering a question from the fans, IndyCar insider Paul Kelly spoke about Team Penske's 'dry spell,' which was unexpected from a team that had defined racing in North America.

"I didn’t have the three Team Penske drivers at fifth (Will Power), eighth (Scott McLaughlin), and 12th (Josef Newgarden) in the standings on my bingo card after seven races this season. Most teams would be content with those results, but this is Penske, a team that has defined excellence in North American open-wheel racing for more than 50 years......" Kelly said (via IndyCar.com).

"There are many opportunities to right the ship in the next 10 races, which include five oval races, a Penske specialty. ....But the drivers have won just one NTT INDYCAR SERIES title since 2019 – Power in 2022. That’s the longest dry spell since the team went without a title from 2007-13, a period of dominance by Chip Ganassi Racing and Andretti Global, which ironically appear to be teams a rung above Penske on the series superiority ladder this season," he added.

Team Penske seemed to have a promising start to their 2025 campaign as their #3 driver, Scott McLaughlin, claimed pole position at the maiden race of the season held at St.Petersburg. The team's best result was at Synk 275, held on July 12, where their drivers Josef Newgarden, Will Power, and Scott McLaughlin finished second, third, and fourth, respectively.