On Tuesday morning, Adam Stern dropped another big Stern bomb that Joe Gibbs Racing has sold some stake in the organization.
In saying that, it’s a big move that makes a ton of sense. The sell keeps Gibbs in full control and in the family should someone want to eventually take over. It also keeps the door open for someone else to run things if they don’t.
“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, ” said Josh Harris, the founder of Harris Blitzer Sports & Entertainment. “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.”
See, I wondered with the tragic loss of Coy Gibbs, Ty Gibbs’ father, hours of Gibbs won the 2023 Xfinity Series title in Phoenix, what was the future of JGR going to bring? To lose one child is tough enough, but for Gibbs, he’s lost two and both were key figures in the company that one day was going to eventually take over.
Without both, it would be hard to press on. Gibbs has anyways but this move helps solidify the team longterm.
It also adds more in Gibbs’ portfolio in him being a part owner now of the Philadelphia 76ers as well as the New Jersey Devils. With his deep ties to the Washington Commanders, Gibbs has NASCAR, NFL, NBA and now NHL all under one umbrella.
“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.”
Not only that, it helps with selling sponsorships to be a part of all those teams. After all, JGR could use some help after losing Mars Inc. this past offseason and now FedEx reportedly possibly leaving too. How much longer is Bass Pro Shops staying? That could be dependent on Martin Truex Jr.
Which is why this move makes the upmost sense in all facets. The name doesn’t change, the personnel remains the same and you add some key players to the fold who helps grow the brand even further and adds some structure and stability to the organization.
Joe Gibbs Racing was founded in 1992 by Pro Football Hall of Fame Coach Joe Gibbs. The team captured its first win at the 1993 Daytona 500, and since that time, JGR has totaled more combined wins across NASCAR’s top three national series than any other organization in the history of the sport. That win total now stands at 401, including 204 NASCAR Cup Series victories and 197 wins in the NASCAR Xfinity Series. Over that time, JGR has captured five NASCAR Cup Series Championships and six NASCAR Xfinity Series Owner Championships. Gibbs was inducted into the NASCAR Hall of Fame in 2020.
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