The sports investment company led by Josh Harris and the sports private equity firm Arctos Partners have made a minority investment in Joe Gibbs Racing. In April, Harris reached a tentative agreement to purchase the Washington Commanders for $6.05 billion.
to purchase the Washington Commanders from owner Daniel Snyder for $6.05 billion, and it’s possible NFL owners will vote on and ratify the deal in late July or early August. Conversations about the deal with Joe Gibbs Racing started before Harris pursued the Commanders, according to one person with knowledge of the machinations of the deals. Gibbs became a confidant to Harris as he pursued the football team, but he is not part of Harris’s investment group in the Commanders.
HBSE’s portfolio includes Harris’s and Blitzer’s ownership of the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils, along with their investments in the esports organization Dignitas and the consulting firm Elevate Sports Ventures, among other properties.Dallas-based Arctos has invested in multiple pro sports franchises, including MLB and NBA teams, since its launch in 2019. The NFL still prohibits private equity from holding ownership stakes in its franchises.
Gibbs coached Washington’s NFL team from 1981 through 1992 and again from 2004 through 2007, leading the franchise to all three of its Super Bowl victories . He
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