Joe Gibbs has found an investor, and they both have a connection to the NFL’s Washington Commanders.
Gibbs has been associated with the Commanders for decades, having won three Super Bowls as the team’s head coach. Josh Harris will have a much deeper connection soon, once his bid to purchase the NFL team is approved.
Harris Blitzer Sports Entertainment has made what JGR is calling a “significant investment” along with Arctos Partners into the racing organization, which has won five Cup titles. Gibbs, in turn, will become a limited partner in HBSE and its ownership of the NBA’s Philadelphia 76ers and NHL’s New Jersey Devils, pending approval of the NBA and NHL.
“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,” Harris said in a statement. “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.
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“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.”
Gibbs is a member of both the Pro Football Hall of Fame and the NASCAR Hall of Fame.
“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 in a statement. “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.”
Other than Gibbs, maybe no other person associated with NASCAR is more of a Commanders fan than Dale Earnhardt Jr., the NASCAR Hall of Fame driver and one of the most popular figures in the sport.
Earnhardt, now an NBC analyst, said he was thrilled with the news.
“This is a great thing for NASCAR,” Earnhardt said Tuesday in a call with reporters to preview the second half of the season. “It’s absolutely great for Joe Gibbs.
“However that may bridge the connection between NASCAR and the Washington Commanders, I’m all about because I’m a massive fan, obviously. I love it. … I think we all wondered what was going to be the future for Gibbs. And this is the answer.”
As part of the deal, Gibbs will provide support to the new owners of the Commanders. A beloved figure among the Commanders fan base, Gibbs released a statement when the Harris agreement to buy the team was announced. The Harris purchase of the Commanders should be finalized next month.
“I’ve had the opportunity to get to know Josh Harris and the leadership team during this process and fully support his efforts to lead the new ownership group of the Commanders,” Gibbs said last month. “The NFL has grown a great deal since my time as a coach in this League, but what hasn’t changed is my belief that with great leadership from the top, the drive to win on the field and a commitment to culture, championship teams are created.
“Josh and his team share these values, and I am committed to doing what I can to reconnect this great franchise to the community, fan base, and alumni.”
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The HBSE investment should help JGR and any questions of stability. According to the news release, the minority investment aims to support Gibbs’ vision for the growth of JGR as a family company.
Joe Gibbs is 82 years old. It was expected that his sons would operate the company, but J.D. Gibbs died in 2019 of a degenerative neurological disorder and Coy Gibbs died in his sleep in November.
Gibbs’ daughter-in-law, Heather Gibbs, Coy’s widow, has taken a more active role since the death of her husband. Their son, Ty Gibbs, is a rookie in the Cup Series this year and is 18th in the Cup standings driving for JGR.
Joe Gibbs’ grandson, Jackson Gibbs (son of J.D. and Melissa Gibbs), is a tire changer for the organization. One of Jackson’s brothers, Miller Gibbs is a wide receiver at Appalachian State entering his senior year and has also become more involved with JGR in recent months.
“J.D. spent his entire professional life building our race team, and then Coy, when his brother got sick, stepped over, and Coy and his son Ty, everything that’s taken place, Heather now stepping into our ownership role — it’s family,” Gibbs said earlier this year.
JGR President Dave Alpern, a childhood friend of J.D.’s and longtime JGR executive, continues to run the day-to-day operations.
“At HBSE, our definition of winning extends beyond the playing surface to positively impact the communities we serve,” said Blitzer, a limited partner of HBSE. “Coach Gibbs and his team epitomize that, and we’re excited to support him and his team as they continue to grow.”
Bob Pockrass covers NASCAR for FOX Sports. He has spent decades covering motorsports, including the past 30 Daytona 500s, with stints at ESPN, Sporting News, NASCAR Scene magazine and The (Daytona Beach) News-Journal. Follow him on Twitter @bobpockrass, and sign up for the FOX Sports NASCAR Newsletter with Bob Pockrass.
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