Huntersville, N.C. – June 20, 2023 – Today Joe Gibbs Racing (JGR) announced it has received a significant investment from Harris Blitzer Sports & Entertainment (HBSE) and Arctos Partners. The minority investment aims to support Coach Gibbs’ vision for the growth of JGR as a family company and as a continued leader in NASCAR. Through the investment, Joe 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. 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 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 Coach Gibbs’ joining HBSE as a limited partner, Co-Founder David Blitzer said, “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.”
“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.”
Joe Gibbs Racing was founded in 1992 by Pro Football Hall of Fame Coach Joe Gibbs. The team captured its first win at the 1993 Daytona 500, and since that time, JGR has totaled more combined wins across NASCAR’s top three national series than any other organization in the history of the sport. That win total now stands at 401, including 204 NASCAR Cup Series victories and 197 wins in the NASCAR Xfinity Series. Over that time, JGR has captured five NASCAR Cup Series Championships and six NASCAR Xfinity Series Owner Championships. Gibbs was inducted into the NASCAR Hall of Fame in 2020.
Ardea Partners LP served as the exclusive financial adviser to Joe Gibbs Racing, Inc.
About Joe Gibbs Racing
Joe Gibbs Racing (JGR) is one of the premier organizations in NASCAR with four NASCAR Cup Series teams, three NASCAR Xfinity Series teams, an ARCA Series team, and a driver development program. JGR is based in Huntersville, N.C., and owned by 2020 NASCAR Hall of Fame inductee Joe Gibbs, who also earned his place in the Pro Football Hall of Fame and was named as one of the NFL’s top 10 coaches of all-time with a winning career that included three Super Bowl Championships as head coach of the Washington franchise. JGR has competed in NASCAR since 1992, capturing more than 400 wins over that span. No team has more combined wins across the sport’s three national series in the history of NASCAR. In addition, JGR has won five Cup Series championships along with four Xfinity Series driver championships and six Xfinity Series owner’s championship. The organization also has captured four Daytona 500 titles, considered to be NASCAR’s premier event each season.
Harris Blitzer Sports & Entertainment (HBSE) is a leading sports and entertainment company, with a focus on inspiring possibilities in people and enhancing the communities where we live, work, play and win.
Founded by Josh Harris and David Blitzer, HBSE’s global portfolio has grown to include premier sports franchises, brands, venues and investment platforms, centered around marquee assets including the Philadelphia 76ers, the New Jersey Devils and the Prudential Center.
About Arctos Partners
Arctos Partners is a private investment firm focused on transforming select markets by providing growth capital and liquidity solutions to industry-leading platforms and ownership groups. Founded in late 2019, Arctos first began investing in professional sports franchises and related assets across the global sports landscape. Arctos works with innovative and visionary ownership groups and leagues across North American professional sports and European soccer. With a team of nearly 40 investment and operational professionals and offices in Dallas, New York, and London, Arctos strives to unlock non-obvious opportunities long before others have noticed the market need or opportunity. In addition to the provision of liquidity solutions and growth capital by Arctos, Arctos’ partners are able to leverage the deep industry knowledge and operational expertise of Arctos’ executive team, data science platform and operating advisors to help drive additional value. Arctos is the first firm to be approved by and execute deals across multiple sports leagues, including the NBA, MLB, NHL, and MLS, and to date, has invested in more than 20 sports franchises and adjacent businesses.