There are legends and dominant personalities in both NFL and NASCAR. But there’s only one who is a legend in both—Coach Joe Gibbs. The 82-year-old not only owns one of the top-most Cup Series teams but is also a Hall of Famer coach for the erstwhile Washington Redskins. And it seems that the relationship between the two sports is getting stronger with the recent updates.
If the recent tweet by Bob Pockrass is anything to go by, Joe Gibbs forged a stronger relationship with Josh Harris as they finalized an exorbitant deal for Joe Gibbs Racing.
Joe Gibbs is ready to take the next step for his team after major investment
ADVERTISEMENT
Article continues below this ad
Joe Gibbs Racing was founded by its namesake owner in 1992 and is one of the top-performing teams in NASCAR. The team has five Cup Series and four Xfinity Series championships to its name. Moreover, Coach Gibbs led his NFL team to 3 Super Bowl championship wins as the head coach.
But why this sudden comparison between Gibbs‘s two roles? The reason is Josh Harris, the owner of Harris Blitzer Sports and Entertainment. Harris recently bought Gibbs’s former NFL team from Dan Snyder for $6 billion, and has now made a financial investment in Joe Gibbs Racing by buying a minority stake within the team. In return, Gibbs has been declared as the limited partner of HBSE.
The news was made public by the veteran NASCAR reporter Bob Pockrass, on Twitter. He wrote, “Joe Gibbs to be limited partner in Harris Blitzer Sports & Entertainment pending approval by NBA/NHL. HBSE owns Sixers & Devils…Obviously this move to align incoming Commanders owner with Joe Gibbs will help both JGR ($$ and ideas) and help Harris connection w/Commanders fans.”
Apart from HBSE, private equity firm Arctos Partners is also slated to make a minority investment in the team. According to reports released by The Athletic, HBSE will not be interfering with the daily functioning of the team. But both the investment companies would try and enhance the “marketing, sales, and business side of the operation.”
Gibbs had extended his support to Harris, after he bought the Washington Commanders, earlier in the year, and also expressed his gratitude to Harris and Blitz for their investment. In a statement released by the press, Joe Gibbs expressed, “Josh Harris, David Blitzer and their entire team have a vision that has delivered winning franchises in basketball, hockey, soccer and youth sports. Their teams are among the most successful in their leagues in growing audience and sponsorship and their commitment to the communities they work in are unparalleled. I am excited to join the HBSE family and to have their support in growing Joe Gibbs Racing.”
Joe Gibbs to be limited partner in Harris Blitzer Sports & Entertainment pending approval by NBA/NHL. HBSE owns Sixers & Devils…Obviously this move to align incoming Commanders owner with Joe Gibbs will help both JGR ($$ and ideas) and help Harris connection w/Commanders fans. https://t.co/0kGUspZv6g
— Bob Pockrass (@bobpockrass) June 20, 2023
Watch this Story: NASCAR Fans Savagely Trash For Wrecking Himself At Sonoma
Netizens throw shade at Gibbs after the investment deal is made public
Trending
Tony Stewart’s Wife Leah Pruett Pens a Heartfelt Message for Husband After His Unwavering Support for His Family
JRM Prodigy & Kelley Earnhardt’s Son Earn Major Backing as Dale Jr.’s Loyal Partners Announce 2025 Return
Christopher Bell Becomes the Laughing Stock With New Teammate Rubbing Salt on Old Wounds Out of the Blue
Dale Earnhardt Jr. Offers a Once-in-a-Lifetime Opportunity to His Loyal Fanbase as He Gears Up for His Return With Budweiser
Michael Jordan and Denny Hamlin’s Gamble on Tony Stewart’s Money Loaded Star Could Not Be Worth the Financial Hassle
But the news of the investment did not sit well among the fans, as they chose to retaliate through their sardonic choice of words. Netizens on Twitter wrote:
“If only we hadn’t seen this exact same situation happen with Roush where someone from elsewhere in sports entertainment bought a minority stake and the team thought they’d benefit from a temporary cash infusion and it ended up wrecking everything.”
“Does that mean the Devils will have to bow in prayer after every game?”
“Need someone to make a Hamlin 76ers scheme.”
HBSE's Josh Harris is head of a group paying $6B to buy the @Commanders, the NFL team formerly coached by Gibbs. As part of the JGR-HBSE agreement, Gibbs will be a limited partner in HBSE pending approval by the NBA and NHL, according to JGR statement. Gibbs started JGR IN 1992
— Erik Spanberg (@CBJspanberg) June 20, 2023
Others also commented, “I thought Gibbs was supposed to be some Jesus freak, why is he partnering with the devil’s? Weird.”
ADVERTISEMENT
Article continues below this ad
“Guess @dennyhamlin didn’t have enough cash.”
He’s also part owner of the @NJDevils if I’m not mistaken?
— x – Josh Sewell (@xroid3000) June 20, 2023
ADVERTISEMENT
Article continues below this ad
With the additional funding incoming for the team, Joe Gibbs Racing after the retracting of M&M’s and the departure of Kyle Busch, the team will try and maintain its Cup Series dominance. It is to be seen what lies ahead as a part of the future development process of the team. Will it see other major brands entering the team as a sponsor? Well, only time can tell.