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Joe Gibbs Racing sells minority stake in NASCAR team to new Commanders owner

Denny Hamlin heads toward Turn 1 during a NASCAR Cup Series auto race at Kansas Speedway in Kansas City, Kan., Sunday, May 7, 2023. (AP Photo/Colin E. Braley)

CHARLOTTE, N.C. (AP) — Joe Gibbs has sold a minority stake in his eponymous NASCAR team to prominent members of the group awaiting approval to take over ownership of the NFL’s Washington Commanders.

Harris Blitzer Sports & Entertainment and Arctos Partners have reached an agreement to buy the Commanders from Dan Snyder pending approval.

Gibbs will become a limited partner in Harris Blitzer Sports & Entertainment, pending approval by the NBA and NHL. HBSE owns the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils.

Josh Harris, the founder, is head of the ownership group for the Commanders. Gibbs won three Super Bowls coaching Washington’s NFL team and had two stints as its head coach. He’s both an NFL and NASCAR Hall of Famer.