Penske Entertainment has sold a one-third interest in the company to FOX. The deal is described as a strategic investment to boost IndyCar’s growth. It includes a multi-year contract extension for Fox Sports’ media rights. Penske expects this move to lead to innovative racing events and enhanced promotion for IndyCar drivers. Roger Penske says the partnership is based on trust and a shared vision. FOX Sports CEO Eric Shanks, an IndyCar fan, is excited about the investment. IndyCar viewership has increased significantly this season. The sale that was announced on Thursday also provides some clarity on Penske’s succession plans.… Continue Reading
