Hey, just discovered a new sports cable channel. It’s call Speed.

It features all things auto racing. Lots of cars going really fast. I highly recommend it.

Wait a minute…You say what?…The channel is being shut down…Really?…

Good-bye, Speed. Hello, Fox Sports 1.

The new sports network makes its official debut tomorrow morning on what had been the Speed channel. Here’s a link where to find the channel on your system.

The good news for Fox Sports 1 is that it will be fully distributed in 90 million homes. The bad news is that they had to do some deep discounting with distributors to get it done.

Reports John Ourand in Sports Business Daily:

The frenzied rush that saw several of the country’s biggest distributors agree to carry FS1 at launch occurred only after Fox surprisingly backed off its asking price of $0.80 per subscriber per month, according to multiple high-level sources. Cablevision, Cox, DirecTV, Dish Network and Time Warner Cable agreed to carry the new, heavily promoted all-sports channel, but only at the same rate they were paying for the previous channel, Speed, which cost $0.23 per subscriber per month. Fox told the distributors that it would convert Speed into FS1 and allow distributors with existing Speed deals to carry it at Speed’s rate, or at least close to it, according to multiple sources with direct knowledge of the talks.

That is Fox’s problem, not yours. It will become your problem when Fox Sports 1 demands bigger fees, which should occur sooner than later. Some distributors will balk, and then more fun will begin when the network is taken off those systems.

However, for now, executives for Fox Sports 1 know the new network has to be fully distributed at launch. They need to build as much early momentum as possible in the effort to eventually reach the same peak as Mt. ESPN.

Day 1 actually will resemble Speed with a full slate of NASCAR followed by an evening of UFC. Fox Sports Live then makes it premiere at 11 p.m. ET.

Then Monday, Fox Sports 1’s other big shows, Crowd Goes Wild, and Fox Football Daily, make their debuts.

Here’s a rundown of the early highlights for Fox Sports 1.

Tune in. Or not.

We’ll be keeping score here.