NBC, NASCAR reach rights agreement starting in 2015

NBC picked up the rights to NASCAR after ESPN and Turner declined to renew. (Chris Troutman/Getty Images)

NBC Sports announced an exclusive rights deal with NASCAR beginning in 2015. The agreement grants NBC exclusive rights on the final 20 races of the Sprint Cup Series and final 19 events of the Nationwide Series.

Both ESPN and Turner failed to reach an agreement with NASCAR to extend their rights deals by the July 14 deadline, and lose rights after declining to match NBC’s offer, according to a report by Sports Business Daily. The report states NBC’s deal is a 50 percent increase over what ESPN paid.

NASCAR Chairman and Chief Executive Officer, Brian France spoke on the new deal:

“NBC is known for being an exceptional partner and delivering outstanding production quality and presentation of live sports, as well as its broad portfolio of broadcast and digital properties so we are thrilled with the commitment they have made to NASCAR and its future,” said NASCAR Chairman and Chief Executive Officer, Brian France. “We know this partnership will yield great value to our entire industry, provide a premium experience to our most important stakeholders, the fans, and help us achieve a number of strategic growth objectives. Our new partnership with NBC and the recent extension by FOX validate the strength of our fan base and the many bold steps we have taken the last several years to provide fans with better, more accessible racing.”

NBC will share rights with FOX, which signed an extension last year.

David Levy, Broadcasting President of Sales, Distribution and Sports for Turner, told the Sports Business Daily they weren't willing to shell out as much as NBC:

"We think NASCAR is an attractive property, but we are disciplined in our approach to negotiating sports rights and could not come up with a business model that was financially prudent for our company."