A pair of racing news that developed over the weekend. Sports Business Daily broke the news Friday, that NBC Universal were to acquire rights of Formula One racing from FOX's Speed Network. And sure enough NBC sent a release today announcing a new four year deal with a 20 race schedule. There will be 16 races are to air on NBC Sports Network with four nationally on NBC, including the final three of the season.
Not withstanding, FOX announced they have extended their rights to NASCAR coverage. With two years left on their contract, FOX and NASCAR agreed to continue their partnership for an additional 8 years of the first half of the Sprint Cup season, including coverage of the Daytona 500. Additionally FOX will be able to live stream races online and acquired digital rights. The deal is worth 300 million for 8 years starting 2015. It has been speculated that F1 moved to NBC after being low balled, with FOX overbidding for more extensive NASCAR coverage leaving little room for a competitive bid.
The loss of F1 racing all but assures the expected demise of Speed, as it appears it will eventually become News Corp's FOX Sports One network. With FOX renewing rights with Major League Baseball, as well as their continued partnership with the NFL and expanded College Football coverage and now NASCAR, the network may get a leg up with programming from each with their goal to directly compete with ESPN.
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