• Loading stock data...
Tuesday, April 22, 2025

With NBC Deal Expiring, IndyCar Nearing New Media-Rights Deal

  • IndyCar is in the last season of a three-year media-rights deal with NBC.
  • The series’ CEO gives ‘Front Office Sports’ an update on negotiations.
Mar 10, 2024; St. Petersburg, Florida, USA; Indycar driver Josef Newgarden (middle) celebrates winning the Grand Prix of St. Petersburg. Indycar driver Patricio O'Ward (left) celebrates winning second and Indycar driver Scott McLaughlin (right) celebrates winning third.
Peter Casey-USA TODAY Sports

IndyCar is heading to Southern California this weekend for a new race with record-breaking prize money, as the series continues to get closer to the finish line of a new media-rights deal that should come with a pay bump of its own.

Dubbed the Thermal Club $1 Million Challenge, a 12-car race Sunday won’t hand out points for the series’ season-long championship, but it will pay out $1.756 million, the highest total purse for an event in IndyCar history outside of the Indianapolis 500. The winning driver will pocket $500,000. “It’s a big payday, so it will have their attention, for sure,” IndyCar CEO Mark Miles tells Front Office Sports.

The race is another shift in IndyCar’s strategy to stay competitive with other racing circuits and the ever-evolving broader sports landscape. In 2023, IndyCar generated its highest viewership since ’11, averaging 1.32 million viewers per race, and now it’s looking to cash in as its deal with NBC Sports, which reportedly brings in about $20 million annually, expires at the end of this season. “We would weigh reach above all else, but we expect to get some kind of increase in our rights fees,” Miles says.

NBC is interested in returning, but plenty of other parties have inquired. “Initially, there were several platforms that we had great discussions with—kind of did a road show to get in front of them,” Miles explains. Fox Sports, in particular, has proved to be a strong contender. “They were interested when we made our last NBC deal,” Miles says. “So, this is not a newfound interest; they like motor sports.” 

IndyCar would prefer to end up with one media partner, rather than splitting its rights across multiple broadcasters, says Miles. He confirmed IndyCar had conversations with more than three of what he called “major disruptive streamers,” but he said it would be a stretch to end up with both a traditional broadcaster and streamer for this deal.

Now negotiations are shifting from logistics to economics, and Miles says the field of suitors is “narrowing some.” A conservative deadline in Miles’s mind is having a completed deal by the Indianapolis 500 on Memorial Day weekend. “I don’t see it exceeding that,” he says.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

NFL Draft Hosts: D.C., Denver, Buffalo Among Future Contenders

Pittsburgh will host in 2026, but 2027 and beyond is to be determined.
Rendering for Bridgestone Arena

Predators Unveil $650M Plan to Keep Pace With NHL’s Venue Race

The NHL team has big plans for the 28-year-old Nashville venue.
The sun rises behind the New York skyline seen from the Jersey City waterfront on Thursday morning Dec. 10, 2020.

N.Y. Sports Betting Faces Major Limits Under New Proposal

Newly proposed legislation would impose daily betting caps and limit advertising.
Dec 30, 2022; Glendale AZ, USA; The College Football Playoff logo on the field at State Farm Stadium, the site of the 2022 CFP Semifinal between the TCU Horned Frogs and the Michigan Wolverines and Super Bowl 57 (LVII).

CFP Format Questions Loom Over Spring Meetings

The CFP management committee is meeting in Dallas this week.

Featured Today

Apr 5, 2025; San Antonio, TX, USA; Duke Blue Devils forward Cooper Flagg (2) reacts after a three point basket against the Houston Cougars during the first half in the semifinals of the men's Final Four of the 2025 NCAA Tournament at the Alamodome.

Cooper Flagg’s Timing Is Perfect for the NBA and USA Basketball

The projected No. 1 pick just declared for the draft.
Apr 14, 2025; New York, New York, USA; Paige Bueckers is interviewed by ESPN after being selected with the number one overall pick to the Dallas Wings in the 2025 WNBA Draft at The Shed at Hudson Yards
April 21, 2025

ESPN’s WNBA Coverage Mirrors the League’s Stunning Growth

“I don’t think we stand still in our coverage of women’s sports,” says Rowe.
Mar 16, 2025; Milwaukee, Wisconsin, USA; Oklahoma City Thunder guard Shai Gilgeous-Alexander (2) celebrates with guard Isaiah Joe (11) after score in the fourth quarter against the Milwaukee Bucks at Fiserv Forum.
April 20, 2025

Unorthodox OKC: The Thunder Redefined Tanking to Become NBA’s Best

A rebuild years in the making has OKC in the driver’s seat.
Mar 13, 2020; Augusta, GA, USA; The front entrance at Augusta National Golf Club in Augusta, Ga., Friday morning. The Masters Tournament has been postponed due to coronavirus concerns.
opinion
April 20, 2025

What’s It Like to Play Augusta? A Day on the World’s Most..

Inside a round at the most exclusive club in the world.

NBA Playoffs Deliver Most-Watched Opening Weekend in 25 Years

It was the most-watched opening weekend on ESPN platforms.
Netflix
April 17, 2025

Netflix Rises While Markets Slide—Thanks in Part to Live Sports

The streaming giant beats financial expectations as its sports presence grows.
Shannon Sharpe
April 21, 2025

Shannon Sharpe Accused of Rape in Civil Lawsuit

The case was filed by an anonymous woman in Nevada.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

This week, Two-time Super Bowl Champion and CBS NFL analyst Logan Ryan joins us to talk the business of sports on our third installment of Portfolio Players.
Lee Corso
April 17, 2025

Lee Corso Will Retire From ESPN at 90

The broadcaster is hanging up his headgear in August.
April 15, 2025

WNBA Draft Draws 1.25M Viewers, Second-Best Behind 2.45M Last Year

Paige Bueckers was the No. 1 pick in the WNBA draft.
April 15, 2025

NBA Regular-Season Ratings Dip 2%, In Line With the NFL

The NFL also saw a 2% viewership decline last season.
April 14, 2025

Masters Final Round Draws 12.7M Viewers, Golf’s Best Since 2018

The final round was the most-watched golf event in seven years.