Trackhouse Entertainment Group has entered the private equity market in the pursuit of raising capital to fund its rapidly expanding motorsports portfolio.
The organization, which is the parent company of the Trackhouse Racing NASCAR team, has recently expanded into MotoGP and expressed an interest in fielding an entry into the Indianapolis 500.
Company owner and veteran racer Justin Marks is also a co-owner of the CARS Tour Late Model series alongside Dale Earnhardt Jr, Jeff Burton and Kevin Harvick.
Marks has largely funded the company himself, with the NASCAR team being a partnership with pop culture icon Armando ‘Pitbull’ Perez. The Marks family has been a longtime investor in the California technology sector but also has corporate sponsors like Chevrolet, Coca-Cola, Kubota, Jockey and, starting in 2024, Anheuser-Busch.
He detailed the reasons to pursue additional private equity in an interview with the Sports Business Journal.
“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,” Marks told the Journal. “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.”
Matt Weaver is a Motorsports Insider for Sportsnaut. Follow him on Twitter.