NASCAR Explored Unprecedented Joint TV Rights Venture with IndyCar Amidst Market Shifts

Internal documents emerging from ongoing antitrust litigation involving NASCAR have revealed a significant, albeit unrealized, strategic consideration: the exploration of a joint television media rights deal with IndyCar. This proposal, detailed in depositions and internal communications, underscores a period of intense strategic reassessment within NASCAR as it navigated a shifting broadcast landscape and a perceived decline in viewership. The discussions, which took place around 2019, highlight a proactive, albeit ultimately unexecuted, effort to maximize revenue and bolster the collective appeal of American open-wheel and stock car racing.

The revelation comes as part of a lawsuit filed by 23XI Racing and Front Row Motorsports against NASCAR, which has led to the public disclosure of a wealth of internal documentation. Among these disclosures is the full 2025 Charter Agreement, providing an unprecedented look into the operational and financial underpinnings of NASCAR’s premier series. Beyond the charter details, these unearthed documents offer a glimpse into past strategic deliberations, including the ambitious concept of a unified media rights approach with IndyCar.

Brian Herbst, NASCAR’s Executive Vice President and Chief Media and Revenue Officer, detailed in his deposition how the organization considered various strategies to enhance its negotiating leverage. "We explored a number of different ideas and concepts to try and improve our negotiating position," Herbst stated. He specifically identified a proposal to approach the media rights market collaboratively with IndyCar as one such concept that "never got off the ground."

The rationale behind this potential partnership was rooted in a desire to present a more compelling package to broadcasters. By uniting the television rights for both premier racing disciplines in the United States, NASCAR and IndyCar could have potentially commanded greater financial returns and offered a more comprehensive offering to a wider audience. "One of those concepts that never got off the ground was, if we approached IndyCar, to have instead of just NASCAR going to market, having NASCAR and IndyCar going to market together for their media rights," Herbst explained.

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This initiative was reportedly an internal presentation, reviewed by senior leadership. Herbst noted that he is "not sure if it got in front of the board honestly." The context for these discussions, according to Herbst, was NASCAR’s recognition of a need for significant creativity and aggression in its approach to future media rights negotiations. This urgency stemmed from a noticeable decline in NASCAR’s viewership numbers between the signing of its previous media rights deal in 2013 and the planning phase for its future in 2018 and 2019.

The broadcast environment at the time was characterized by a decline in the traditional pay-TV model. Herbst highlighted the increasing separation of sports into "must-have" and "nice-to-have" categories for broadcasters. There was a tangible concern within NASCAR that the sport might be relegated to the latter category, diminishing its perceived value and, consequently, its media rights revenue potential.

Ultimately, NASCAR proceeded with a different strategy for its most recent media rights negotiation. Following the conclusion of its previous deal after the 2024 season, NASCAR finalized a new, comprehensive $7.7 billion agreement that spans from 2025 through 2031. This deal represents a significant shift, moving to a hybrid model that includes a diverse array of broadcast partners. Existing partners FOX Sports and NBC Sports remain involved, but the new agreement also incorporates Warner Brothers Discovery and, notably, streaming giant Amazon’s Prime Video. This multi-platform approach aims to capture a broader audience and cater to evolving viewing habits.

Concurrently, IndyCar also embarked on a new media rights chapter in 2025. Under an exclusive deal with FOX Sports, all 17 IndyCar events will be broadcast on FOX’s primary channel. This agreement also saw FOX acquire a 33% stake in Penske Entertainment, the owner of IndyCar and the iconic Indianapolis Motor Speedway, further solidifying the network’s commitment to the sport.

Despite the joint media rights venture not materializing, there have been instances of increased collaboration between NASCAR and IndyCar, often facilitated through FOX Sports. A notable example of this alignment will occur in the upcoming season, with the Phoenix race weekend scheduled to feature both NASCAR Cup Series and IndyCar Series action. Additionally, the NASCAR Truck Series is set to make its debut at St. Petersburg, Florida, as part of IndyCar’s season-opening event. These integrated race weekends signal a growing effort to cross-promote and potentially co-market the two disciplines, capitalizing on shared fan bases and logistical efficiencies.

The antitrust lawsuit itself has brought to light various internal deliberations within NASCAR, shedding light on the complexities of managing a major professional sports league. The lawsuit, initiated by team owners, centers on allegations of anti-competitive practices and the charter system’s impact on team profitability and autonomy. The public release of documents related to this case continues to offer valuable insights into the business operations and strategic thinking of NASCAR.

The consideration of a joint TV deal with IndyCar, while ultimately a path not taken, serves as a compelling case study in how major sports entities approach critical revenue-generating opportunities in a dynamic media environment. It highlights a period where NASCAR was actively exploring unconventional avenues to secure its financial future and maintain its prominence in the sports broadcasting landscape, even considering a partnership with a rival discipline to achieve these goals. The current $7.7 billion deal, with its multi-network and streaming components, represents NASCAR’s chosen path forward, aiming to adapt to the evolving media consumption patterns of its audience. The ongoing legal proceedings continue to be a source of information regarding NASCAR’s past strategies and future outlook.