Insider claims Billionaire Roger Penske rejected several IndyCar buyers before $135M deal with FOX

Motorsport pundit James Hinchcliffe has asserted that billionaire businessman Roger Penske (net worth of $7.5 billion, per Forbes) rejected several IndyCar buyers before putting pen to paper in a reported sale of one-third of its stake for a deal worth around $135M to broadcasting giants, FOX.

In late July 2025, the 88-year-old agreed on a deal to sell one-third of Penske Entertainment to FOX, in turn, letting the latter have one-third control over IndyCar and the iconic Indianapolis Motor Speedway.

In line with this, James Hinchcliffe appeared on the Red Flags Podcast, where he talked about FOX's interest in IndyCar and why the deal was made. He said:

"They (FOX) know how to promote, you know, they know how to market, and they had a vested interest." 1:21:42 onwarss.

Hinchcliffe also specifically talked about Roger Penske having no interest in selling IndyCar to potential buyers other than FOX.

"When you look at it from the IndyCar side, you know, it's pretty well publicized that a lot of suitors have approached Penske Entertainment about either buying the series or partnering the series or whatever, and Roger Penske has been fairly, you know, blatant about the fact that he had zero interest. He doesn't need anybody's money. And he doesn't want to partner for the sake of, you know, it's just a headache." 1:22:05 onwards.

Several top motorsport personalities have seen FOX's increased involvement in IndyCar after the recent deal in a positive light. The full impact of this will be seen during the 2026 season, as there are only two events remaining in the ongoing 2025 campaign.

FOX thrilled to join Roger Penske-led IndyCar's 'ownership group'

While James Hinchcliffe has made it crystal clear that Roger Penske had no interest in selling IndyCar to any buyer other than FOX, the broadcasting giant was also on cloud nine in July when the deal was announced.

In line with this, FOX CEO & executive producer, Eric Shanks, talked about the upbeat morale within the organization and how the investment indicates FOX's commitment to motorsports.

"We’re thrilled to join the INDYCAR ownership group at such a pivotal time for the sport. INDYCAR represents everything we value in live sports. passionate fans, iconic venues, elite competition and year-round storytelling potential. This investment underscores our commitment to motorsports and our belief in INDYCAR’s continued growth on and off the track."

It is believed that the huge investment by FOX is going to lead to the launch of a new era in the world of America's highest-class open-wheel racing.

The key pointers in this will be a focused effort toward innovation, industry-leading racing and entertainment events, a dedicated digital strategy, and a focus on immersive content. There will also be an enhanced level of promotion for the various teams and drivers.