Future Washington Commanders owner and MoCo native Josh Harris and his sports and property management company Harris Blitzer Sports & Entertainment LLC (HBSE) has bought a minority equity stake in Joe Gibbs Racing, owned by heralded former Washington head coach Joe Gibbs, according to a report by the Sports Business Journal.
According to the report, Gibbs has told people close to him that he intends to keep the team in the family and would only sell a minority stake. Gibbs will continue running Joe Gibbs Racing while receiving help from HBSE in areas like marketing and sales, plus fundinG. The racing team name will not change and Gibbs will become part owner of the Philadelphia 76ers of the NBA New Jersey Devils of the NHL, pending approval by both leagues. As a part of HBSE, Gibbs would also have a minority ownership stake in the Washington Commanders once the sale is finalized.
Joe Gibbs previously released a statement following the official announcement of a purchase/sale agreement between the Washington Commanders and a partnership led by Montgomery County native Josh Harris.