NASCAR Cup
JGR sells minority interest in its NASCAR operation
Harris Blitzer Sports & Entertainment has become a new minority investor in Joe Gibbs Racing which in turn will give team owner Joe Gibbs limited partnership in that group’s other professional sports franchises.
Jim Utter
Edited: Jun 20, 2023, 3:18 PM
Copy link
Share on Viber
In a news release, JGR said the “significant investment from HBSE and Arctos Partners “aims to support Coach Gibbs’ vision for the growth of JGR as a family company and as a continued leader in NASCAR.”
HBSE is an American sports and property management company headquartered in Camden, N.J., and founded in 2017 by private equity investors Josh Harris and David Blitzer.
The group owns the NHL’s New Jersey Devils and NBA’s Philadelphia 76ers. It also is in the process of acquiring the NFL’s Washington Commanders, which should become official this summer.
Gibbs’ limited partnership in HBSE is pending approval by the NBA and 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.”
JGR was founded in 1992 by Gibbs, the former Pro Football Hall of Fame coach of the then-Washington Redskins. The team captured its first win in NASCAR Cup competition in the 1993 Daytona 500.
Since then, JGR has totaled more combined wins across NASCAR’s top three national series – Cup, Xfinity and Trucks – than any other organization. That includes 204 Cup victories and 197 wins in Xfinity.
JGR has won five Cup championships and six Xfinity owner titles. Gibbs was inducted into the NASCAR Hall of Fame in 2020.
JGR currently fields four fulltime Cup teams with Denny Hamlin, Martin Truex Jr., Christopher Bell and Gibbs’ grandson, Ty 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 aim to support his vision and allow Joe Gibbs Racing to continue its track record of excellence long into the future.”
We want your opinion!
What would you like to see on Motorsport.com?
Take our 5 minute survey.
- The Motorsport.com Team
Read and post comments
Read also :
Share Or Save This Story
Copy link
Share on Viber
Previous article McDowell: "We legitimately had the pace" to challenge Truex
Next article SHR names new Cup crew chief for driver Chase Briscoe
Top Comments
There are no comments at the moment. Would you like to write one?
View More & Comment
More from
Jim Utter
Erik Jones agrees to multi-year contract extension with Legacy Motor Club
NASCAR Cup
NASCAR Cup Aug 13, 2024
Erik Jones agrees to multi-year contract extension with Legacy Motor Club
Goodyear's option tires at Richmond "were like Mario Kart with a star"
NASCAR Cup
NASCAR Cup
Richmond II
Aug 12, 2024
Goodyear's option tires at Richmond "were like Mario Kart with a star"
NASCAR: Austin Dillon move was "really close to crossing the line"
NASCAR Cup
NASCAR Cup
Richmond II
Aug 12, 2024
NASCAR: Austin Dillon move was "really close to crossing the line"
Latest news
‘Lewis suspected a conspiracy’ – Nico Rosberg explains how Lewis Hamilton F1 rivalry went awry at Mercedes
Formula 1
F1 Formula 1 3 min
‘Lewis suspected a conspiracy’ – Nico Rosberg explains how Lewis Hamilton F1 rivalry went awry at Mercedes
BMW "proud of what we achieved" after securing runner-up in 2026 WEC
WEC
WEC WEC
Monza
1 h
BMW "proud of what we achieved" after securing runner-up in 2026 WEC
The numbers that reveal how sprint races have turned the MotoGP title fight upside down
MotoGP
MGP MotoGP
Qatar GP
3 h
The numbers that reveal how sprint races have turned the MotoGP title fight upside down
2027 Formula E drivers and teams: The line-up so far
Formula E
FE Formula E 5 h
2027 Formula E drivers and teams: The line-up so far
Subscribe and access Motorsport.com with your ad-blocker.
From Formula 1 to MotoGP we report straight from the paddock because we love our sport, just like you. In order to keep delivering our expert journalism, our website uses advertising. Still, we want to give you the opportunity to enjoy an ad-free and tracker-free website and to continue using your adblocker.
You have 2 options:
- Become a subscriber.
- Disable your adblocker.
Subscribe now Already subscribed? Sign in here
Already disabled your adblocker?
Reload page
Manage Alerts
Subscribe