The IndyCar Series has entered a new era following last week’s announcement that FOX Corporation has purchased a one-third stake in Penske Entertainment, the parent company of IndyCar and the iconic Indianapolis Motor Speedway.
While there are still many unknowns about the long-term impact of the move, FOX stepping in as a co-owner — after already joining as the exclusive broadcaster this season — signals a commitment to shaping the series’ future. The announcement outlined ambitions such as renewed focus on racing innovation, immersive content strategies, enhanced digital platforms, and turning drivers into household names.
Alex Palou, who has become the face of IndyCar by winning three of the last four championships — and is on course for a fourth, possibly as soon as next weekend at the Grand Prix of Portland — as well as winning the Indianapolis 500 last May, believes FOX’s arrival as a part-owner is a step in the right direction.
Race winner Alex Palou, Chip Ganassi Racing
Photo by: Penske Entertainment
“Unfortunately, I don’t know exactly what this is going to do for our sport, and I don’t really know much about what’s going to change, if it’s going to change anything,” Palou said during a virtual media session ahead of the Portland event. “But I think somebody as big as FOX, and with the small time that they’ve been with IndyCar and how much love they’ve showed us and how much work and investment that they’ve put in the series — like even before we started the season — it was crazy. It was unbelievable.”
Expanding interest in the sport
Palou emphasized that FOX’s involvement will help extend the sport’s reach as it seeks to attract new fans, both to the racetrack and to television screens.
“I think having a partner like this — they don’t need to figure out how to reach more people; they already can. So having someone on your team with that kind of reach who only needs to find ways to do it appropriately and make sense for both IndyCar and their business — I think it’s going to be huge.”
The Chip Ganassi Racing driver backed his excitement about FOX’s increased involvement in the sport by acknowledging the media company’s marketing efforts in 2025, the first year of its exclusive network-only broadcast deal for IndyCar races.
“I think this is all we need. It’s going to take, obviously, some time, but I think everybody will agree that everything FOX has done to promote us — I’m sure you’ve noticed it. You go to any fuel station and it’s not hard to see one of the IndyCar ads from FOX pop up. Also, being featured during major sporting events on TV almost every weekend — it’s great.”
“Yeah, I cannot wait to see what they’re going to do. I’m really happy to see that, and I have full trust and full confidence that they are going to do well for our sport.”
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