"We hope to have an announcement pretty soon about HD," Fox Sports Chairman David Hill said.
Hill made the remarks in a conference call with reporters to preview the opening week of the NASCAR season Sunday, following last weekend's Daytona 500.
"I think this sport is going to benefit from coverage on HD," he explained. "The problem right now is there's not that much equipment."
A representative for Fox Sports said there was no timetable for making an announcement.
Notable deaths of 2014 [PHOTOS]
Katy Perry dressed as giant Cheeto for Halloween