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.
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