NYRA expands deal with Fox Sports
Fox acquires 25% stake in NYRA Bets in agreement that extends until 2030
The New York Racing Association and Fox Sports announced a longterm agreement Thursday involving media rights and a piece of NYRA Bets.
The “expanded partnership” declares Fox as the official wagering partner of NYRA Bets, the association’s advance deposit wagering platform. Fox acquired a 25 percent stake in NYRA Bets as part of the arrangement, which extends through 2030.
On the television side, Fox is expected to air a minimum of 700 hours annually from Belmont Park and Saratoga Race Course. The network will have exclusive national broadcast rights to major races at both tracks except for the Belmont Stakes, which will remain on NBC.
NYRA will serve as the production arm for all horse racing events during the term of the partnership under the agreement.
Fox has produced the Travers at Saratoga for the past two years and will continue to do so for the next 10 years.
“Fox Sports has shown an unwavering commitment to the sport of horse racing over the past five years,” Dave O’rourke, president and CEO of NYRA, said in a statement. “The strength of our partnership with Fox Sports ... has proven to be hugely beneficial for the New York racing community.”
The previous contract between Fox and NYRA included an option to acquire 25 percent of NYRA Bets, which launched in 2016. The Fox Sports subsidiary will exercise this option by the summer of 2021, pending final regulatory approval.
“The remarkably rapid expansion of NYRA Bets, and the digital ADW (advance deposit wagering) marketplace, make this an ideal opportunity for Fox Sports to deepen and broaden its investment in both premier media rights and the high-growth sports wagering industry,” Fox executive vice president Michael Mulvihill said in a statement. “With our investment options in NYRA Bets, Fox is now uniquely positioned as the only media company with strategic stakes in digital bet-taking businesses in horse racing, sports betting, poker and casino gaming. We’re confident that our television partnership with NYRA will fuel continued growth for NYRA Bets in the years ahead.”