NASCAR’s current TV revenue-sharing deal gets over at the end of this season and there has been a lot of talk about the next one, The existing deal has three benefactors for each race weekend – the track, the teams, and NASCAR themselves. The TV revenue is split into three parts and the biggest one goes to the track.
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That’s one of the things the team representatives want to change in the new deal. The second share of the revenue goes to the teams and this is where it gets interesting. A team’s share of revenue is paid based on their finishing position both in a race and at the end of the season.
It’s then up to the teams to decide what to do with the revenue and usually, it is split among the drivers. As a part of the new deal, teams are hoping for a bigger share of the revenue. Unfortunately, a deal has not been agreed upon yet by the teams and NASCAR and if reports are to be believed, there’s a bit of tension between the two parties regarding that.
The new TV rights deal is worth a whopping $7.7 billion and it will run through till the end of the 2031 season and there are a lot of changes.
The much-talked-about new NASCAR TV rights deal
Firstly, the FOX-NBC duopoly finally comes to an end as streaming services make a much-needed debut in NASCAR. FOX will broadcast the first 14 races of the season while NBC will have the last 14. In between them, Amazon Prime Video gets the rights to stream five races, and the same with TNT Sports.
The two streaming sites will also broadcast practice and qualifying sessions for every race of the season and CW will broadcast the Xfinity Series. “It’s available in every household in the United States, so we’re excited to have our Xfinity Series with one focused broadcast network,” Joe Gibbs Racing team president Dave Alpern said when asked about the accessibility of the series.
Whether that really is the case in the first few years of the new TV rights deal is yet to be seen, but one can be excited for the future of the sport.
