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NASCAR, Fox sign 8-year extension

Updated: October 15, 2012, 11:10 AM ET
Associated Press

CHARLOTTE, N.C. -- NASCAR and Fox Sports Media Group announced a $2.4 billion, eight-year extension Monday that runs through 2022 and keeps the prestigious Daytona 500 and first third of the Sprint Cup Series on the network.

The deal came with a 33 percent annual fee hike for Fox, which has been with NASCAR since 2001. Fox will pay an average of $300 million annually beginning in 2015.

The deal was put together during an early negotiating window with Fox, which has two full seasons ...

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