Harris Blitzer Sports & Entertainment and Arctos Partners have reached a minority investment of the Joe Gibbs Racing NASCAR team. Photo Credit: David Rosenblum, LAT Images, Courtesy of Toyota Racing.
As of 2023, Joe Gibbs Racing has more victories across the NASCAR National Series ranks (401) than any other team in history. However, the team that was founded in 1992, took a huge step on Tuesday in insuring that it will be an industry leader for years to come.
Joe Gibbs Racing announced that it has, “received a significant investment,” from Harris Blitzer Sports & Entertainment and Arctos Partners. While the financial terms of the investment were not disclosed, the investment was announced as a minority investment of JGR.
Coach Joe Gibbs, who is in the NASCAR Hall of Fame and the Pro Football Hall of Fame, is elated to join the HBSE family, and is gracious for their support that will help JGR continue to grow long-term.
“Josh Harris, David Blitzer, and their entire team have a vision that has delivered winning franchises in basketball, hockey, soccer, and youth sports. Their teams are among the most successful in their leagues in growing audience and sponsorship and their commitment to the communities they work in are unparalleled. I am excited to join the HBSE family and to have their support in growing Joe Gibbs Racing,” said Joe Gibbs in a JGR team release.
Additionally, Joe Gibbs will also become a limited partner in Harris Blitzer Sports & Entertainment pending approval by the National Basketball Association (NBA) and the National Hockey League (NHL).
The Harris Blitzer Sports & Entertainment group make up the ownership group of the Philadelphia 76ers franchise in the NBA, the New Jersey Devils in the NHL, and they are finalizing a deal to buy the Washington Commanders franchise in the National Football League (NFL).
The fact that the group sees a NASCAR race team as an entity that it wants to invest in is a massive deal for the sport as a whole, and it is an impressive move for the JGR organization. HBSE is committed to continuing the culture at JGR that has led to five NASCAR Cup Series driver championships.
“In recent years I’ve been fortunate enough to get to know Coach Gibbs and am proud to count him as a trusted friend and advisor,” said HBSE’s Co-Founder Josh Harris. “Joe is a winner. First in football and then with Joe Gibbs Racing, he has led organizations that build winning cultures based on strong values and a deep commitment to family and faith. This investment and partnership aims to support his vision and allow Joe Gibbs Racing to continue its track record of excellence long into the future.”
On-track success isn’t the only hallmark that HBSE valued when it decided to go all-in on a partnership with Gibbs. The off-track values shown by JGR played a huge role as well.
“We welcome Coach Gibbs and JGR to the HBSE family. At HBSE, our definition of winning extends beyond the playing surface to positively impact the communities we serve. Coach Gibbs and his team epitomize that and we’re excited to support him and his team as they continue to grow,” explained HSBE Co-Founder David Blitzer.
It’s all about growth for everyone involved — JGR, HBSE and Arctos Partners.
“We’re thrilled to be entering this relationship with Joe Gibbs Racing alongside HBSE,” said Chad Hutchinson, Partner at Arctos Partners. “Coach Gibbs has created one of the most successful organizations in NASCAR, and we are excited about the opportunities to support JGR’s growth as they continue to be a leader on the track.”
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