Fox’s deal announced today extends its current pact with NASCAR by eight years to 2022 and is worth $2.4 billion, the first fee increase for these racing rights in a decade. The network will pay about $300 million annually beginning in 2015 and keep its Daytona 500 , add TV Everywhere digital rights that had resided within the racing series previously, and air the first third of the Sprint Cup Series. The contract was worked out two years before the old one expired as part of an exclusive negotiating window. ESPN and Turner are next up for non-exclusive talks, which won’t begin until next summer. NASCAR’s current TV package is worth about $4.48 billion.
Meanwhile, NBC Sports Group today announced a four-year deal with Formula One for U.S. rights, adding more content to the network’s fledgling NBC Sports Network, which already airs the open-wheel IndyCar series. The F1 pact offers more than 100 hours of programming beginning next year — four of 20 races will air on NBC — and ends a 17-year run for the international racing series on the Speed network, owned by Fox Sports.