NASCAR just went through a breakthrough in their highly anticipated upcoming new media rights deal. Despite the success, the organization did not disclose some of the crucial aspects regarding its revenue split between the teams. Over the past several months Race Team Alliance (RTA) has been asking for a fairer deal between NASCAR and the teams.
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However, talking about revenue split, the President of NASCAR, Steve Phelps, stated, “Nothing to report at this particular time about how the dollars will be distributed.”
“That will be between our teams and us in the coming couple of months as we get our charters extended. I don’t know exactly when we are going to get it done. The teams and ourselves are committed to doing that.”
In the past, NASCAR assigned 25 percent of its TV revenue to be distributed among the teams, while retaining 10 percent for the sanctioning body. The majority share of 65 percent was allocated to the tracks, which were predominantly owned by NASCAR or Speedway Motorsports.
NASCAR seals a massive $7.7 Billion new media deal
The new NASCAR broadcast rights agreement for the 2025-2031 seasons marks a significant shift toward diverse media partnerships. According to the new deal, FOX Sports will continue to telecast the first 14 events of the Cup Series season.
Thereafter, Amazon Prime will stream the next five events and all practice and qualifying sessions for the first half of the season. TNT will return to telecast five Cup events and stream all races through its platforms, while Warner Brothers Discovery will provide practice and qualifying coverage for its portion of the schedule, with streaming on its Max platform and airing on truTV.
Additionally, NBC Sports will telecast the final 14 events of the Cup season, with a mix of races on NBC and USA Network. In essence, this new agreement promises to bring NASCAR to a wider audience and usher in a new era of coverage for the sport through a diverse array of media brands and platforms. The total valuation of this deal is estimated to be around $7.7 billion and NASCAR will receive around $1.1 billion per year around the seven-year agreement.
