Yahoo Autos Trackhouse Racing adds new investor
Avenue Sports Fund has acquired a minority stake in Trackhouse Entertainment Group, both sides announced Wednesday.
Trackhouse Entertainment Group is the parent company of Trackhouse Racing, which fields entries in NASCAR and MotoGP. The investment from Avenue Sports Fund, which launched in 2023 and provides capital solutions to sporting teams and leagues, will help Trackhouse Racing be more competitive “in the marketplace and on the track.”
“We are excited to partner with Justin Marks and his organization as they continue to compete aggressively in the NASCAR Cup Series and MotoGP series and potentially in new motorsports in the future,” said Marc Lasry, Avenue Capital’s Chairman, CEO and co-founder. “NASCAR has long held its position as the most popular racing series in North America, and MotoGP is now one of the most popular motorsports in the world with millions of cumulative race attendees and a substantial digital audience — all compelling attributes for an investment by Avenue Sports.”
Trackhouse Racing was founded in 2021 by Justin Marks as a single-car NASCAR team. Armando Perez, otherwise known as Pitbull, joined the ownership group that same year. The team has since expanded to two full-time entries with Ross Chastain and Daniel Suarez, and an occasional third car under the PROJECT91 banner.
Marks expanded the organization’s footprint into MotoGP last year. It is the first American team in the series since 2007.
“From the day of Trackhouse’s inception it has been a central goal to build a valuable, diverse, and global motorsports platform,” Marks said. “Partnering with Avenue is a monumental step forward in continuing to develop and execute that vision. With Trackhouse in the Avenue portfolio, the company will be able to draw on the experience and expertise of a leading global sports fund to scale into one of the most powerful companies in the word with best-in-class on-track competitiveness partner services, and racing event experiential assets.”
