Avenue Sports activities Fund has acquired a minority stake in Trackhouse Leisure Group, each side introduced Wednesday.
Trackhouse Leisure Group is the dad or mum firm of Trackhouse Racing, which fields entries in NASCAR and MotoGP. The funding from Avenue Sports activities Fund, which launched in 2023 and supplies capital options to sporting groups and leagues, will assist Trackhouse Racing be extra aggressive “within the market and on the monitor.”
“We’re excited to companion with Justin Marks and his group as they proceed to compete aggressively within the NASCAR Cup Collection and MotoGP collection and probably in new motorsports sooner or later,” stated Marc Lasry, Avenue Capital’s Chairman, CEO and co-founder. “NASCAR has lengthy held its place as the preferred racing collection in North America, and MotoGP is now one of the crucial standard motorsports on this planet with hundreds of thousands of cumulative race attendees and a considerable digital viewers — all compelling attributes for an funding by Avenue Sports activities.”
Trackhouse Racing was based in 2021 by Justin Marks as a single-car NASCAR workforce. Armando Perez, in any other case referred to as Pitbull, joined the possession group that very same yr. The workforce has since expanded to 2 full-time entries with Ross Chastain and Daniel Suarez, and an occasional third automotive below the PROJECT91 banner.
Marks expanded the group’s footprint into MotoGP final yr. It’s the first American workforce within the collection since 2007.
“From the day of Trackhouse’s inception it has been a central objective to construct a priceless, numerous, and world motorsports platform,” Marks stated. “Partnering with Avenue is a monumental step ahead in persevering with to develop and execute that imaginative and prescient. With Trackhouse within the Avenue portfolio, the corporate will be capable to draw on the expertise and experience of a number one world sports activities fund to scale into one of the crucial highly effective firms within the phrase with best-in-class on-track competitiveness companion companies, and racing occasion experiential property.”
