Roger Penske sells 1/3 of Indianapolis Motor Speedway and Indy car racing to Fox.

[mrsilv04]

"The sale was described as a strategic investment and partnership designed to launch new growth for IndyCar and it includes a multi-year contract extension for Fox Sports’ media rights deal with the open-wheel series. Fox Sports is in its first season broadcasting IndyCar.

Penske Entertainment expects the sale of part of the company to spearhead innovative and industry-leading racing and entertainment events, heightened digital strategy and immersive content focus, as well as enhanced promotion and star-building opportunities for IndyCar drivers."

https://apnews.com/article/indycar-...peedway-sale-6cf572e27f884c4a334bbe14d0302ec7

 

[Vercingetorix]

Indy car needs to just go away. 13 year old Dallaras is a joke. New chassis 3 years from now? Racing should be about improving technology, not about putting on a good show for TV ratings, thank you FOX. It’s become a reality TV series which like all of them is not reality.

 

[cheesepuffs2]

I don't want IndyCar to go away, but I want it to become compelling, because frankly it just isn't anymore.

I agree, the current chassis is super old. I wish they'd run more ovals, change the schedule up, and make the cars lighter and more agile. Going hybrid isn't what they need.

 

[Carmudgeon]

New car in the next 2-3 years. Hopefully.

Penske sold off his interest in oval tracks long ago, and most of them now belong to his competitors, who have little interest in helping promote a competing series. They can only go where they are wanted, and can strike a deal to hold a race.

Even when welcomed via a track rental, the business case for oval races is difficult, because without strong promotion and marketing, they are lightly attended by IndyCar fans, with the exception of the 500.

And Penske has been reluctant to spend too much of his own money, outside of IMS, to try to grow the series, though the recent Fox investment can help.

While a shrewd businessman, he made his fortune in car dealerships and truck rentals, which are not the same as a sports entertainment business.