37 C
Wednesday, October 4, 2023

Joe Gibbs Racing Announces Partnership with Harris Blitzer Sports & Entertainment and Arctos Partners


Minority Investment Seeks to Support Gibbs Family’s Vision for JGR

Coach Gibbs to become LP of HBSE, 76ers and Devils

Huntersville, North Carolina – June 20, 2023 – Today, Joe Gibbs Racing (JGR) announced that it has received significant investment from Harris Blitzer Sports & Entertainment (HBSE) and Arctos Partners. The minority investment is intended to support Coach Gibbs’ vision for JGR’s growth as a family business and as a continuing leader in NASCAR. With the investment, Joe Gibbs will also become a limited partner of Harris Blitzer Sports & Entertainment, pending approval from the NBA and NHL.

“Josh Harris, David Blitzer and their entire team share a vision of winning in basketball, hockey, soccer and youth sports. Their teams are leagues in growing audiences and sponsorships One of the most successful teams in the sport, their commitment to their community is unparalleled. I am delighted to join the HBSE family and have their support for the growth of Joe Gibbs Racing,” said Joe Gibbs.

“In recent years, I have had the privilege of getting to know Coach Gibbs and am proud to consider him a trusted friend and advisor,” said HBSE co-founder Josh Harris. “Joe was a winner. First football, then Joe Gibbs Racing, he led an organization that built a winning culture based on strong values ​​and a strong commitment to family and faith. This investment and partnership was designed to support his vision and enable the Joe Gibbs Racing continues to have an exceptional record long into the future.”

About 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, we define winning beyond the playing field to positively impact the communities we serve. Coach Gibbs and his team are the epitome of that, and we are delighted to support him and his team as they continue to grow.”

“We are delighted to join HBSE in this relationship with Joe Gibbs Racing,” said Chad Hutchinson, Partner at Arctos Partners. “Coach Gibbs created one of the most successful organizations in NASCAR, and we are delighted to have the opportunity to support JGR’s growth as they continue to be leaders on the track.”

Joe Gibbs Racing was founded in 1992 by Pro Football Hall of Fame coach Joe Gibbs. The team won its first victory at the Daytona 500 in 1993, and since then, JGR has won more total victories in NASCAR’s top three national series than any other in the history of the sport organize. The win total now stands at 401, including 204 NASCAR Cup Series victories and 197 NASCAR Xfinity Series victories. During that time, JGR has won five NASCAR Cup Series championships and six NASCAR Xfinity Series Owners Championships. Gibbs was inducted into the NASCAR Hall of Fame in 2020.

Ardea Partners LP acted as exclusive financial advisor to Joe Gibbs Racing, Inc.

Joe Gibbs Racing (JGR) is one of NASCAR’s primary organizations with four NASCAR Cup Series teams, three NASCAR Xfinity Series teams, an ARCA Series team and a driver development program. Headquartered in Huntersville, NC, JGR is owned by 2020 NASCAR Hall of Famer Joe Gibbs, who is also inducted into the Pro Football Hall of Fame and named a top 10 player in NFL history with a win One of the coaches, his career as head coach of the Washington team included three Super Bowl titles. JGR has competed in NASCAR since 1992, racking up more than 400 wins during that time. No team in NASCAR history has won more championships in the sport’s three national series. In addition, JGR has won five Cup Championships as well as four Xfinity Series Drivers’ Championships and six Xfinity Series Owners’ Championships. The organization also has four Daytona 500 victories, considered the premier event of every NASCAR season.

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 in the global sports sector. Arctos works with innovative and forward-thinking ownership groups and leagues in North American professional sports and European soccer. With a team of nearly 40 investment and operations professionals, and offices in Dallas, New York and London, Arctos is dedicated to identifying opportunities that are not obvious in the market long before others notice a need or opportunity in the market. In addition to having liquidity solutions and growth capital provided by Arctos, Arctos’ partners are able to leverage the deep industry knowledge and operational expertise of Arctos’ executive team, data science platform and operations consultants to help drive added value. Arctos was the first company to receive approval and execute a transaction from multiple sports leagues, including the NBA, MLB, NHL and MLS, and to date has invested in more than 20 sports franchises and related businesses.


Source link

Related Articles

Sridevi’s husband cleared in Dubai investigation

Five years following the untimely passing of Bollywood legend Sridevi in a Dubai hotel, her husband and film producer, Boney Kapoor, has provided insights...

‘Queen’s Gambit’ Star Anya Taylor-Joy Marries Boyfriend

Anya Taylor-Joy, the acclaimed star of 'The Queen's Gambit,' has embarked on a new chapter in her life as she recently tied the knot...

Parineeti Chopra’s Bridal Look, Grandmother Tribute in Photos

Indian actress Parineeti Chopra, now married to politician Raghav Chadha, shared her wedding trousseau, emphasizing intricate details in social media posts. Alongside her specially...

Parineeti weds Raghav; Sania, Manish flaunt wedding attire

Indian politician Raghav Chadha and actor Parineeti Chopra have tied the knot in an intimate Udaipur ceremony at the Leela Palace. The couple is...

Deepika Padukone on her role in Shah Rukh Khan’s “Jawan”

Deepika Padukone discussed her role in 'Jawan' and her special experience working with Shah Rukh Khan. She shared that Shah Rukh and Atlee approached...

Latest Articles