Philly Sports Live

NASCAR, Fox announce $2.4-billion extension of television contract

NASCAR and Fox Sports Media Group announced a $2.4-billion, eight-year extension on 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. The deal was put together during an early negotiating window with Fox, which has two full seasons remaining on its current contract with NASCAR, and at a time when the motorsports industry is still battling the economy.

Fox gets the first 13 Sprint Cup Series races under the deal, and the entire Camping World Truck Series. Fox also retained the rights to the Sprint All-Star Race and the Daytona 500 qualifying races and the preseason Shootout race at Daytona.

An additional and important component to the deal for NASCAR is the inclusion of “TV Everywhere” rights, which allow Fox to live stream its races online beginning with the 2013 season-opening Daytona 500. Fox can also stream pre- and post-race coverage, race highlights and in-progress race highlights.