Private equity firms are accelerating their presence in NASCAR, as the iconic American motorsport brand opens its doors to new sources of capital to fund its growth and global ambitions.

Harris Blitzer Sports & Entertainment, Avenue Capital, and Knighthead Capital are among the major investment players now partnering with high-profile NASCAR teams, including Joe Gibbs Racing, Trackhouse, and Legacy Motor Club, respectively. These partnerships have been enabled by a shift in NASCAR’s ownership model, which now permits private equity groups to acquire minority stakes in charters, though sovereign wealth funds remain barred.

Commissioner Steve Phelps told CNBC, “So we allow private equity to buy a percentage of the charter. And they are. Harris Blitzer partnered with Joe Gibbs Racing… Avenue Capital came in there… Knighthead Capital have partnered with Legacy. I think it’s a good thing, honestly. We’re seeing a lot of money, lots of capital come into NASCAR teams.”

The influx of private equity capital follows a groundbreaking media rights agreement involving The CW, TNT Sports, and Prime Video, aimed at expanding NASCAR’s reach and attracting younger audiences. With this strategic shift, NASCAR is not only doubling down on its U.S. stronghold but also exploring international markets. Brazil has already been floated as a potential race location, and rumours of a fourth manufacturer joining the series are also fuelling optimism.

Despite its traditionally conservative ownership under the France family since 1948, NASCAR is now in what Phelps calls the “exploration phase,” eyeing a global footprint similar to that of the NBA two decades ago.

For private equity firms, the appeal lies in NASCAR’s potential as a scalable commercial platform. Investors are bringing not just capital but also business expertise and deep sponsorship networks, an increasingly valuable asset in the Xfinity and Truck Series.

As the sport modernises its operations and global appeal, private equity may become a core driver of NASCAR’s transformation into a more dynamic, investor-backed entertainment entity.

Source: Essentially Sports

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