Report: NASCAR to sign lucrative Fox TV extension

Fox will extend its NASCAR and Daytona 500 television rights. (Jared C. Tilton/Getty Images)

NASCAR could announce an eight-year television rights extension with Fox as soon as today, according to a Sports Business Daily report.

The agreement would keep the Daytona 500 and first half of NASCAR seasons through 2022 on Fox.

Sources valued the deal at more than $2.4 billion over eight years, a sizable increase from Fox’s current eight-year, $1.76 billion agreement. The network’s new eight-year extension will see it retain the broadcast rights for 13 NASCAR Sprint Cup Series races and the entire Camping World Truck Series.

The deal also includes TV Everywhere rights, which will allow Fox to stream its races to a Fox Sports-affiliated website. These streaming rights have become a standard part of media deals.

It's been more than a decade since Fox's NASCAR contracts have included an increase in fees.

NASCAR officials were optimistic that increased Major League Baseball television rights fees recently paid by Fox, Turner and ESPN would help their negotiations.

The Fox extension should give NASCAR some leverage in negotiating second-half season rights with Turner and ESPN next summer.

If those parties balk at the price, NASCAR will turn to the open market and look to bring in NBC, CBS or another network.