Fox Sports buys 25% of horse racing gambling platform in expanded NYRA deal

Fox Sports buys 25% of horse racing gambling platform in expanded NYRA deal

Article brief provided by Sportico
  • Eben Novy-Williams, Sportico
March 26, 2021 12:30 AM
  • Eben Novy-Williams, Sportico

    Fox Sports is expanding its relationship with the New York Racing Association [NYRA], a two-part deal that includes a media rights extension and an equity stake in the horse racing association’s gambling platform.

    On the media side, the Fox Corp. unit is extending its broadcast deal with NYRA through 2030, giving Fox Sports rights to racing events like the Travers. Fox Sports expects to air at least 700 hours of coverage each year from NYRA’s Belmont Park and Saratoga Race Course.

    The bigger part of the deal, however, is the gambling portion. Fox Sports is taking a 25% stake in NYRA Bets, an option laid out in a prior rights agreement with NYRA.