SOZONE PARK — FOX Sports, a unit of FOX Corporation (Nasdaq: FOXA, FOX), and the New York Racing Association, Inc. (NYRA) announced an expanded partnership agreement that establishes FOX Sports as the official wagering partner of NYRA Bets and the leading media provider for elite thoroughbred racing. The announcement was made on March 25.
NYRA Bets Equity Option
The prior FOX Sports/NYRA media rights agreement provided a FOX Sports subsidiary with an option to acquire a 25% stake in NYRA Bets, LLC (NYRA Bets), a leading Advance Deposit Wagering (ADW) platform launched in 2016 and available to customers in 30 states across the country. The FOX Sports subsidiary will exercise this option by the summer of 2021, pending final regulatory approval.
The newly announced agreement provides a FOX Sports subsidiary with a future opportunity to increase its equity interest in NYRA Bets.
Media Rights Agreement
The new agreement will extend FOX Sports’ television rights with NYRA through 2030 and further expand exclusivity for daily racing at Belmont Park and Saratoga Race Course.
Under the new deal, FOX Sports expects to air at least 700 hours of coverage each year from Belmont Park and Saratoga Race Course, and, outside of prior commitments, gives the network exclusive national broadcast rights for Belmont Park and Saratoga Race Course through 2030. NYRA will serve as the production arm for all horse racing events during the term of the partnership.
The new FOX Sports/NYRA agreement ensures that the Travers will air LIVE on FOX through 2030. The agreement does not include the Belmont Stakes Racing Festival and the Belmont Stakes.