Trackhouse Racing owner Justin Marks refutes claims of $100,000,000 rapper leaving the team

Trackhouse Racing owner Justin Marks denied the rumors of American rapper Pitbull leaving the team as a co-owner. He further revealed that the two have "big plans" for 2025.

Armando Perez, better known by his alias Pitbull, joined the team in an ownership role in the 2021 season. Since then, the musician has been a prominent part of the team. The musician is worth $100 million according to Celebrity Net Worth.

Earlier this week, rumors of Pitbull leaving Trackhouse Racing circled on social media. Originating from a Reddit post, the story said that the ownership structure had been changed after Marc Lasry acquired a stake in the team through Avenue Sports Fund. This was assumed to be the reason Pitbull was leaving the team.

However, Marks ended the rumors on social media, saying that the two will work together in the future as well. He wrote:

"Every single element to the stories of my friend and partner @pitbull leaving Trackhouse Racing re materially untrue. Unreliable ‘media’ perpetuating a lie. We have big plans for 2025 and beyond!"

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Justin Marks expects improvement at Trackhouse Racing after Avenue Sports Fund investment

Earlier this month, Marc Lasry took a minority stake in Trackhouse Racing through Avenue Sports Fund. Lasry founded this organization to help him actively invest in sports teams.

While the exact amount of the investment was not revealed, it is expected to bring some changes to the team. Owner Justin Marks felt this was a positive for the team. He believes this addition to Avenue's portfolio will develop competitiveness in the side.

"From the day of Trackhouse’s inception it has been a central goal to build a valuable, diverse, and global motorsports platform," he said (via Jayski). "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 motorsports companies in the world with best-in-class on-track competitiveness, partner services, and racing event experiential assets."

Trackhouse Racing currently race with Ross Chastain and Daniel Suarez in the Cup Series. They drive the #1 and #99 Chevrolets. While the latter has locked himself up in the playoffs for the season, Chastain hangs in on the edge at 16th place. He is seven points above 23XI Racing's Bubba Wallace.