Joe Gibbs Racing has had a major change with their sale of a minority stake in the team. They recently received a major investment in return for a small percentage of the team from Harris Blitzer Sports & Entertainment and Arctos Partners. The deal also makes sure that JGR owner, Joe Gibbs, received status as a limited partner in Harris Blitzer Sports & Entertainment. Although, that will only be confirmed after approval from NHL and NBA. Meanwhile, talking about this recent news, JGR’s senior driver Denny Hamlin recently voiced his opinion in support of Gibbs’ decision for the sale.
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Hamlin insisted that it was a good move for the organization, while at the same time, claiming he remains unaware of how this will play out for him as his contract extension decision nears.
Denny Hamlin appreciates JGR’s sale of a minority stake in the team
Speaking ahead of the Ally 400 race at Nashville Superspeedway, Hamlin was quizzed by the media regarding the recent developments. He swiftly had a response regarding the matter as well as his thoughts on his future with the team.
Denny Hamlin said Joe Gibbs selling a minority stake to sports-ownership group Harris Blitzer Sports and Entertainment is good for the organization. As others said, he doesn’t feel it will impact his future. pic.twitter.com/6WTpxeceM9
— Bob Pockrass (@bobpockrass) June 24, 2023
Hamlin stated, “I mean it’s really good for the organization, for sure. I think it allows Joe to take some chips off the table for sure. He’s invested a lot into this sport. For now, to have an investment firm that’s got a lot of resources it’s really really good for our team. It’s definitely bringing some forward thinking into what the long-term plan is for Joe Gibbs Racing. It’s a great group and excited to work with them.”
Right after Bob Pockrass asked him if this move impacted his future at all or not. Hamlin subsequently responded, “No, I don’t think it impacts my future.”
Will this sale cause a problem in Hamlin’s contract renewal?
Of course, Joe Gibbs will not be looking for something that happened with Hamlin’s teammate, Kyle Busch last season. Therefore, despite some changes in the ownership stake within the team, things should look healthy for him. Retaining Hamlin after his 18-year-long stint with the team would definitely be JGR’s priority at all times, especially considering that Hamlin runs another Cup Series team, 23XI Racing, under the TRD banner with support from JGR.
Furthermore, Hamlin has also had a pretty good run with FedEx as his sponsor over the years and unlike Busch’s situation last year with M&M’s, FedEx plans to stay within the sport. Therefore, there should not be much of a problem considering his sponsorship needs for the near future. As of now, it looks like Hamlin is to stay at JGR for a couple more years without any major problems to ruin his party.
So for the short answer, no, the recent minority stake sale for JGR should not affect Hamlin.
