Marc Lasry, former co-owner of the Milwaukee Bucks NBA team, has made a significant investment in Trackhouse Racing through the Avenue Sports Fund.
According to a press release from the NASCAR team, Avenue Sports Fund acquired a "significant minority stake" in Trackhouse Entertainment Group.
Justin Marks, founder of Trackhouse Entertainment and Trackhouse Racing, said in a statement that this partnership will make his team more competitive in the marketplace and on the track.
Marks's organization currently fields two full-time cars in the NASCAR Cup Series and a part-time third car. Trackhouse also made its move to MotoGP this season after purchasing the slot previously held by the CryptoData RNF MotoGP Team.
"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 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."
Avenue Capital, the company Lasry founded in 1995 with Sonia Gardner, announced the launch of the Avenue Sports Fund last October. The stated goal in the press release was to "provide capital solutions to a wide variety of sports teams, owners, and leagues, as well as invest in sports-related media and entertainment rights, real estate, and other adjacent businesses."
The initial areas of focus for the Avenue Sports Fund were North America and Europe. According to Avenue Capital, this would expand to emerging sports leagues and teams in Africa, Asia, South America, and Australia.
Trackhouse Racing has made its mark since initially entering the NASCAR Cup Series in 2021. The organization expanded to two full-time teams in 2022 and celebrated three wins. Last season, the team brought in Shane van Gisbergen, who won his Cup Series debut in Chicago. Ross Chastain also added two more wins to his resume.
This season has featured Trackhouse Racing's seventh Cup win. Daniel Suarez won the February race at Atlanta Motor Speedway, his second win at the Cup level.