Joe Gibbs to sell stake in NASCAR team, become partner in NBA team WSOC TV

HUNTERSVILLE, N.C. — Joe Gibbs Racing has sold a minority equity stake to Philadelphia 76ers parent company Harris Blitzer Sports & Entertainment, bringing some of the most aggressive and talked-about owners in sports to NASCAR.

Terms were not disclosed, though it is said to be a significantly sized minority stake that HBSE has bought in the Huntersville-based race team.

The deal brings together team owner Joe Gibbs, the Washington Commanders’ former Hall of Fame coach, and Josh Harris, the prospective new owner of the NFL Commanders.

The team’s valuation was not immediately able to be learned, nor was it clear if there was any path to eventual majority control. Also party to the deal is Arctos Sports Partners, which invested in HBSE last year. Gibbs will become a limited partner in HBSE as part of this agreement.

Learn more about the agreement here.

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