HUNTERSVILLE, N.C. — Joe Gibbs Racing has sold a minority stake of the team to Harris Blitzer Sports & Entertainment and Arctos Partners, JGR announced Tuesday.
The minority investment aims to support Joe Gibbs’ vision for the growth of JGR as a family company and as a continued leader in NASCAR.
Through the investment, Gibbs will also become a limited partner in Harris Blitzer Sports & Entertainment pending approval by the NBA and the NHL.
“Josh Harris, David Blitzer and their entire team have a vision that has delivered winning franchises in basketball, hockey, soccer and youth sports,” said Gibbs. “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.”
“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.”
Harris is the head of the incoming ownership group of the NFL’s Washington Commanders with the pending sale not yet ratified by the NFL and its team owners. Gibbs coached the team for 14 seasons, winning three Super Bowls during his tenure.
“We welcome Coach Gibbs and JGR to the HBSE family,” co-founder David Blitzer said. “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.”
“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.”