NASCAR and Fox sign 8-year extension through 2022
CHARLOTTE, N.C. (AP) — NASCAR and Fox Sports Media Group announced a $2.4 billion, eight-year extension Mon-day 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.
“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.”
The deal was put together during an early negotiating window with Fox, which has two full seasons remaining on its current contract with NASCAR, and at a time when the motorsports industry is still battling the economy.
The Saturday night race at Charlotte Motor Speed-way had an announced crowd of 100,000, the smallest since NASCAR began announcing attendance in 2003. Talladega a week earlier also had its smallest crowd.
Posted by Jon Kleinknecht
on Oct 15 2012.
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