NASCAR’s $7.7 Billion TV Deal Backfires as Dedicated Fans Make Desperate Plea

Last year, a piece of news revealed NASCAR’s improving finances. When the sanctioning body signed a seven-year, $7.7 Billion media rights deal, race teams smelled a bigger pie of the revenue. But unfortunately, they were allegedly barred from sharing too much of that wealthy, delicious pie. A reason that was put up for that was NASCAR’s greed.

This icky financial situation has now stretched to the fandom as well. Under the previous deal, FOX and NBC paid $820 Million a year. Hence the massive leap to $7.7 Billion spells costlier TV and streaming services for fans. In several editions of our exclusive newsletter “Lucky Dog on Track,” fans expressed how the situation does not bode well.

NASCAR’s fan-centric approach seems to be failing

For most of NASCAR’s journey, fans majorly had to worry about ticket prices to races. But that area reached a head last year at the Chicago Street Race. Tickets for the ‘President’s Paddock Club’ began selling for over $3000 per person. Fans were outraged at this ridiculous price, with one person claiming, “smh nobody is going to pay that.”

But now the costly enterprise is advancing into fans’ homes too. When NASCAR signed the media rights deal last November, a significant change set in. With Amazon and TNT Sports on board, both TV and streaming will split the race schedule. Thus viewers will need to pay for a wider variety of services.

NASCAR President Steve Phelps aimed to secure a bigger audience with the new media rights deal. “We are super excited about what 2025 is going to bring to us… which is a combination of obviously broadcast, cable, and streaming. We want to meet race fans where they are or potential race fans where they are. We think this group does exactly that for us, so we couldn’t be happier to have them on board.”

Strangely, this arrangement is in place only for the Cup Series. The Xfinity Series announced in July 2023 that all races will move to the CW network. Only FS1 is airing the Craftsman Truck Series, also in a similar situation.

However, statistics can be a reason for this. Amazon is a multi-billion-dollar company, and its Prime Video is the US’ second-biggest streaming service. Also, 2023 data demonstrates that 31% of Americans in the 18-34 age range use streaming services at least once a day. This falls in place with NASCAR’s struggle to find a place among the youth.

However, the fandom is reacting exactly opposite to what Phelps had anticipated.

Race fans call out sanctioning body’s soaring prices

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As Michael Jordan pointed out rightly in an interview in May, NASCAR was unwilling to share its revenue properly. “If our ownership in NASCAR is losing money and NASCAR’s the only one making money, that’s not a good partnership.” Besides ignoring the unfair economic situation in the garage, the executives also did not consider the fans’ situation when they signed the expensive media rights deal.

We found several responses echoing a plaintive sentiment about the more expensive races. In our exclusive newsletter, “Lucky Dog on Track,” one fan vehemently protested. “$7.7B Media deal? Maybe they can help me pay these different cable/TV bills I have so I can continue to watch the ONLY sport I love. They’re killing me!”

Another fan took a harsh approach, launching scathing attacks on NASCAR, and even Dale Earnhardt Jr who will join Amazon as a broadcaster next year. “I feel Prime Video is too isolated from Nascar fans as all Nascar fans do not have streaming services and I think it is just a gimmick by Nascar and Prime to get Prime more business. Shame on Nascar Shame on Prime and Shame on Dale Jr.”

Feeling helpless with NASCAR’s pursuits, one fan suggested a solution to the expensive ordeal. “Maybe I’ll just do what was suggested to me and I’ll read about the races that are run the next day in the papers. NASCAR keep pricing us out, you will see it doesn’t behoove you.”

Another fan echoed Michael Jordan’s sentiment, underlining the executives’ tireless want. “I don’t like the idea of NASCAR moving to Prime, or other services that have to be paid for. Greed is what’s behind this move.”

Evidently, the racing community is voicing their protests against the soaring expenses of watching a NASCAR race. Let’s see how the new setup pans out with the fans.