Josh Harris and HBSE make significant minority investment in Joe Gibbs Racing
Josh Harris is the next owner of the Washington Commanders. The NFL could approve Harris’ $6.05 billion bid to buy the franchise as soon as next month.
In the meantime, Harris and his partner with Harris Blitzer Sports and Entertainment, David Blitzer, along with Arctos Partners, recently invested in Joe Gibbs Racing.
Yes, the next owner of the Washington NFL franchise invests in the successful NASCAR operation run by the legendary former head coach of the team.
During the sale process for the Commanders, Harris developed a close relationship with Gibbs, with Coach Gibbs offering counsel throughout the process. Gibbs released a statement in May when Harris reached a tentative deal with current owner Daniel Snyder.
While there was a rumor that Gibbs was one of Harris’ partners in his bid for the Commanders, that is not the case. Coach Gibbs will have no official role with the Commanders but will help Harris and his group however they can, including with alumni and the fans. The organization remains special to Gibbs.
The discussions between HBSE and Joe Gibbs Racing began before the purchase of the Commanders.
Harris released the following statement through HBSE Tuesday:
“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,” Harris said in the release. “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.”
After its investment into Joe Gibbs Racing, HBSE owns the NBA’s Philadelphia 76ers and NHL’s New Jersey Devils and has multiple investments in other organizations and properties.
Gibbs released the following statement:
“Josh Harris, David Blitzer and their entire team have a vision that has delivered winning franchises in basketball, hockey, soccer and youth sports,” Gibbs said. “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 had two stints as the coach of the then-Redskins, totaling 16 seasons. He is a three-time Super Bowl — the only three Super Bowls in the franchise history — a four-time NFC champion with a 154-94 record, a 17-7 mark in the playoffs, and was inducted into the Pro Football Hall of Fame in 1996. Gibbs is also a member of the NASCAR Hall of Fame.
