Harris Blitzer Sports & Entertainment and Arctos Partners on Tuesday announced they significantly invested in Joe Gibbs Racing. The minority investment aims to support Gibbs’ vision for the growth of JGR as a family company and as a continued leader in NASCAR.
Through the investment, Pro Football Hall of Fame Coach Joe Gibbs will also become a limited partner in Harris Blitzer Sports & Entertainment, pending approval by the NBA and the NHL.
Who is Joe Gibbs?
2020 NASCAR Hall of Fame inductee Joe Gibbs 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.
“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,” Gibbs said.
“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 adviser,” HBSE co-founder Josh Harris said. “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 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,” Chad Hutchinson, partner at Arctos Partners, said. “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.”
Ardea Partners LP served as the exclusive financial adviser to Joe Gibbs Racing Inc.