NASCAR
NASCAR and Fox Sports Media Group announced a $2.4 billion, eight-year extension Monday that runs through 2022 and keeps the prestigious Daytona 500 and first third of the Sprint Cup Series on the network.
Fox, which has been with NASCAR since 2001, will pay an average of $300 million annually beginning in 2015 in its first fee increase in more than a decade.
Fox paid a fee increase to NASCAR for the first time in more than a decade, and the deal puts NASCAR in the driver seat for negotiations on the remainder of its contract. ESPN and Turner hold the rights on the remainder of the schedule through 2014, and exclusive negotiations with NASCAR do not begin until next summer.
“NASCAR has been in very good hands and has enjoyed tremendous success the last 12 years in large part because of our fantastic partnership with FOX and FOX Sports Media Group,” said NASCAR chairman Brian France. “This extension with FOX Sports Media Group helps position the sport for future growth as NASCAR continues to be an anchor with one of the world’s largest and most influential media companies.”
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