DARLINGTON, SOUTH CAROLINA - MAY 07: Kyle Busch, driver of the #18 M&M's Toyota, (L) and Trackhouse Racing team co-owner Justin Marks talk on the grid during qualifying for the NASCAR Cup Series Goodyear 400 at Darlington Raceway on May 07, 2022 in Darlington, South Carolina. (Photo by James Gilbert/Getty Images) | Getty Images for NASCAR

NASCAR news: Trackhouse Entertainment looking to raise capital

Trackhouse Entertainment Group is in the private equity market seeking to raise capital to fund the company’s rapidly increasing ambitions in motorsports, according to team founder Justin Marks.

Featuring what will be a fourth-year NASCAR team and first-year MotoGP team in 2024, Trackhouse has shook up motorsports with a disruptive approach on and off the track.

The company and its racing operations are believed to have largely been funded up to this point through Marks, whose family has a history of investments in the technology industry, plus corporate sponsors like Chevrolet, Coca-Cola, Kubota, Jockey and, starting in 2024, Anheuser-Busch. Rapper Armando “Pitbull” Perez is also a marketing partner of the team.

“If we think about the future for Trackhouse, it looks like we’re going to raise investment capital to have our powder dry so we’re able to take advantage of really unique and lucrative opportunities ahead of us, and there are many of them. I think really the next step is making sure we get that partner to really take advantage of that opportunity and scale the brand into a very valuable platform.” The timeline for a deal was unclear.  Sports Business Journal

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