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Future Washington Commanders owner Josh Harris has purchased a minority ownership stake in Joe Gibbs Racing, with the team announcing Tuesday that it has received a "significant investment" from Harris Blitzer Sports & Entertainment and Arctos Partners. The NASCAR race team owned by the Pro Football Hall of Fame head coach and NASCAR Hall of Fame car owner joins a portfolio of professional sports teams that also includes the Philadelphia 76ers of the NBA, the New Jersey Devils of the NHL and will soon include the Commanders, pending approval from the NFL.

As part of the investment, Gibbs will become a limited partner in Harris Blitzer Sports & Entertainment, pending approval from the NBA and NHL. The investment also comes adjacent to Harris' purchase of the Commanders, who Gibbs coached to three Super Bowl titles in the 1980s.

"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," read a statement by Gibbs. "I am excited to join the HBSE family and to have their support in growing Joe Gibbs Racing."

"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," read a statement by Harris. "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."

The investment by Harris into Joe Gibbs Racing comes at a time where the company's long-term outlook had been complicated by the deaths of the 82-year old Gibbs' two sons. J.D. Gibbs, who was first in line to take over the family race team, died in 2019 after several years of suffering from a neurological disease. Then, Coy Gibbs died suddenly in his sleep last November.

Heather Gibbs, Coy's widow and the mother of leading NASCAR Cup Series rookie Ty GIbbs, has reportedly taken a more active role in ownership since her husband's death. Day-to-day operations at Joe Gibbs Racing are currently run by team president Dave Alpern.

Joe Gibbs Racing, which has fielded cars in the NASCAR Cup Series since 1992 and won five Cup championships, currently fields four full-time Cup teams for drivers Denny Hamlin, Martin Truex Jr., Christopher Bell and Ty Gibbs as well as teams in the NASCAR Xfinity Series and ARCA Menards Series.