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NASHVILLE, Tenn. -- NASCAR announced Wednesday they have reached a new, seven-year media rights deal with four broadcast partners -- Fox Sports, Amazon Prime, Warner Bros. Discovery and NBC Sports -- to carry live coverage of all NASCAR Cup Series races from 2025 through 2031. According to a report by Sports Business Journal, the new media rights deal is worth a total of $7.7 billion with an average annual value of $1.1 billion, up 40 percent from the current media rights deal that runs through 2024.

Fox Sports and NBC Sports, NASCAR's existing media partners, will both broadcast 14 races each -- Fox at the beginning of the season and NBC at the end. Five races annually will be broadcast on Fox, four on NBC, and the remaining events will air on FS1 and USA Network, respectively.

Two new broadcast partners, Prime Video and TNT Sports, will evenly split a series of 10 midseason races. In addition, both Prime Video and TNT Sports have obtained exclusive rights to practice and qualifying sessions for the entire season. Prime Video will stream all practice and qualifying sessions from the start of the season -- with the exception of the Busch Light Clash, Daytona 500 and All-Star Race sessions, which will remain on Fox Sports -- through the end of their midseason series.

TNT Sports will then broadcast the next five races with a simulcast on TNT and streaming on the B/R Sports Add-On on Max. Practice and qualifying for the remainder of the season will then air on truTV with streaming on Max.

"Our goal was to secure long-term stability with an optimized mix of distribution platforms and innovative partners that would allow us to grow the sport while delivering our product to fans wherever they are -- and we've achieved that today," read a statement by NASCAR president Steve Phelps. "NASCAR has been a cornerstone property for both new and established platforms for several decades. These agreements demonstrate the staying power of our sport and the consistent, large-scale audience it delivers. 

"This landmark deal underscores our collective growth opportunity to drive engagement across this diverse collection of platforms – whether on broadcast, cable or direct-to-consumer. With the talented young drivers, exciting new teams and record-breaking racing we've seen since the Next Gen car was introduced in 2022, we're looking forward to working with each of these partners to bring some of the best racing in the world to fans everywhere."

With NASCAR's media rights now secured for 2025 and beyond, the next step for the sport's executives is to come to a resolution in their ongoing negotiations with race teams on a renewal to the sport's charter agreement, NASCAR's equivalent of a franchising model. When asked about how the securing of media rights affects the process of completing a charter agreement renewal, Steve Phelps did not commit to a timetable for when that would get done.

"I don't know exactly when we're gonna get it done, but the teams and ourselves, we are committed to doing that," Phelps told reporters. "When that is, I don't know exactly. ... I think what we will see from a charter extension is what is going to be in the best interest in the sport to have healthy race teams."

In addition to the Cup Series, all races plus practice and qualifying sessions for the NASCAR Xfinity Series will be broadcast on The CW, per an agreement that had previously been announced. Fox Sports will continue to broadcast all NASCAR Craftsman Truck Series races on FS1.