Joe Gibbs Racing announced June 20 a minority investment from Harris Blitzer Sports & Entertainment, as well as Arctos Partners.
As part of the agreement, JGR owner Joe Gibbs will also be a partner at HBSE.
HBSE is a sports entertainment company whose portfolio includes the Philadelphia 76ers, New Jersey Devils and the Prudential Center. Arctos is an investment firm that has invested in more than 20 sports franchises.
“Josh Harris, David Blitzer and their entire team have a vision that has delivered winning franchises in basketball, hockey, soccer and youth sports,” Gibbs said in a team release. “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.”
“We welcome Coach Gibbs and JGR to the HBSE family,” HBSE co-founder David Blitzer added. “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.”
JGR fields four full-time NASCAR Cup Series teams, a trio of cars in the NASCAR Xfinity Series and one ARCA Menards Series ride.
About the author
A daily email update (Monday through Friday) providing racing news, commentary, features, and information from Frontstretch.com
We hate spam. Your email address will not be sold or shared with anyone else.