"Financially, IndyCar is a loser right now" - Team owner Michael Shank minces no words while assessing FOX's future impact

IndyCar has signed a deal with FOX to partner with the media group as the exclusive broadcaster of the open-wheel racing series starting in 2025. FOX took over the rights from NBC and has received a lot of praise for their promotions. However, Meyer Shank Racing co-owner Michael Shank came out to detail the impact of IndyCar's partnership with FOX.

The IRL (Indy Racing League) and Champ Car merged to form the IndyCar series in 2008. However, the split in the 90s led to the decline of the popularity of the series, and the series continues to suffer from the same to date. In a bid to increase the popularity of the sport, Penske Entertainment has been making a plethora of changes, which includes the deal with FOX.

AUTO: AUG 16 NTT IndyCar Series Bommarito Automotive Group 500 - Source: Getty

MSR’s co-owner Michael Shank came out before the start of the 2025 season and detailed how it will take over a year to see and reap the benefits of the FOX partnership. He also highlighted the financial struggles faced by the IndyCar team as he said (via RACER):

“We’re obviously hopeful it’s going to have a positive response in the markets, because the other knock-on effect is our annual budgets haven’t gone down for 2025. That’s why you’re seeing more pay drivers become relevant. And that’s why we’re all so hopeful that it’s a big audience increase, because at least that gives us a better shot at trying to get these budgets covered. And trust me, it ain’t easy.”

“Financially, IndyCar is a loser right now. So we’ll give it a couple years and see what the FOX deal does, see how the charter system goes, see where we stand and if it’s gotten better with the finances,” he added.

The introduction of the hybrid power units by IndyCar has increased the full-season operational cost for a team from $6-8M to $10M. The costs will only go up in the near future with IndyCar planning to introduce the new chassis for the 2027 season.

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MSR co-owner Helio Castroneves hails IndyCar's decision to partner with FOX

Four-time Indy 500 winner Helio Castroneves owns a minority stake in the Meyer Shank Racing team. Castroneves was featured on Kevin Harvick's Happy Hour podcast and detailed the impact that FOX will have on the IndyCar series. A clip from the same was uploaded on Instagram, as Castroneves said:

“Well, we're super excited to not only have an incredible company as FOX. But you know that they're going to do anything to make not only IndyCar back to the saddle and back to what it used to be. Apart from that you know this year now the teams, they signed a contract with basically a franchise now.”

Helio Castroneves has been participating as a part-time entry for MSR in the Indy 500 and won the fabled race in 2021 during his debut season with the team.