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AVONDALE, ARIZONA – NOVEMBER 04: NASCAR President Steve Phelps (L) and NASCAR Executive Vice … [+] President Steve O’Donnell speak to the media during the NASCAR annual State of the Sport address at Phoenix Raceway in Avondale, Arizona. (Photo by Jared C. Tilton/Getty Images) Getty Images NASCAR president Steve Phelps and NASCAR’s chief operating officer Steve O’Donnell met with the media at Phoenix Raceway Friday for the annual state of the sport address. Phoenix Raceway is hosting the final races of the season and will crown champions in the Cup, Xfinity and Truck series. And while a wide range of topics were covered during the press conference the two biggest issues the sport faces are the media rights, and its Charter system for team owners. Perhaps the biggest elephant in the NASCAR room are the media rights for the sport. NASCAR’s last media rights deal was negotiated in 2013 and an extension signed in 2015 with NBC and Fox through 2024. At the time The Associated Press reported that both networks would pay $8.2 billion to NASCAR. That rights agreement is a significant source of income for NASCAR, and its teams. The only piece of a media rights agreement to be officially announced is the rights to the Xfinity series which will be shown on the CW starting in 2025 in a deal reported to be worth $115 million. As for the rest of the sport very little has been revealed. Among the networks reportedly showing interest are Amazon AMZN , and Warner Brothers in addition to Fox and NBC. MORE FROM FORBESNascar’s Xfinity Series Signs History-Making Deal With The CWBy Greg Engle “Our media rights, the amount of interest in attaining our media rights for ’25 and beyond exceeded our expectations” Phelps said Friday. “It is our expectation that…

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Filed under: News - @ November 4, 2023 5:20 am