Fox Sports, NASCAR Finalize Rights Deal Through '24 Worth $3.8B
Fox Sports and NASCAR closed a new $3.8B TV rights agreement that adds three Sprint Cup races, 14 Nationwide series races and two years to the deal the broadcaster cut with NASCAR last fall. The $3.8B price tag is $1.4B higher than Fox had agreed to pay through '22. The deal pushes NASCAR's total TV rights haul to more than $820M a year, a roughly 46% increase from the $560M it currently receives annually from Fox, Turner Sports and ESPN. Fox and NBC combined will pay $8.2B for NASCAR TV rights. NASCAR and Fox declined to comment on terms of the agreement.
Sources said that the deal Fox cut with NASCAR last fall gave the broadcaster the first right to negotiate on the first half of the Nationwide Series season if ESPN, which currently holds those rights, opted not to retain them. ESPN passed on renewing its NASCAR rights in early July, triggering the clause in Fox' contract and allowing the broadcaster to scoop up the Nationwide Series. The deal with Fox closes out all of NASCAR's remaining inventory.
Fox will air the first 16 Sprint Cup races and first 14 Nationwide Series races annually beginning in '15. NBC will air the subsequent 20 Sprint Cup races and 19 Nationwide Series races.