Arctos Acquires Stake in Joe Gibbs Racing Led by Harris Blitzer
Joe Gibbs Racing Secures New Partnership with Harris Blitzer Sports & Entertainment and Arctos Sports Partners
Joe Gibbs Racing (JGR), one of the most successful NASCAR teams in the circuit's top three national series, has formed a new partnership with Harris Blitzer Sports & Entertainment (HBSE) and Arctos Sports Partners. This move strengthens JGR's ownership structure while maintaining its operational and competitive collaboration with 23XI Racing.
The partnership, announced in 2023, came after JGR sold minority ownership stakes to HBSE and Arctos Sports Partners. As a result, HBSE and Arctos have become minority partners in JGR, providing financial and strategic backing to support the team's NASCAR operations.
HBSE, known for its investments in sports and entertainment, owns the Philadelphia 76ers and New Jersey Devils. Arctos, on the other hand, is a sports-focused private equity fund that primarily invests in minority ownership stakes in professional sports teams.
Joe Gibbs Racing was founded by Joe Gibbs, a former football coach and current owner of the racing organization, in 1992. Gibbs retired from a Hall of Fame coaching career with the NFL's Washington franchise in the same year.
Arctos, which manages about $6.6 billion in assets, is also investing in JGR. The terms of the deal have not been disclosed.
In 2021, JGR formed a technical alliance with 23XI Racing. This alliance aims to support Joe Gibbs' vision and further strengthen JGR's position in the NASCAR circuit.
Joe Gibbs Racing claims to be the winningest NASCAR team in the circuit's top three national series. With the new partnership, the team is poised to continue its successful run in NASCAR.
- Harris Blitzer Sports & Entertainment (HBSE) and Arctos Sports Partners, who are investors in sports and entertainment, have entered the world of NASCAR through a financial and strategic partnership with Joe Gibbs Racing (JGR).
- The sports-focused private equity fund, Arctos Sports Partners, has made an investment in Joe Gibbs Racing (JGR), marking their entrance into NASCAR alongside HBSE, who already has stakes in professional sports teams like the Philadelphia 76ers and New Jersey Devils.
